Section 169(2) in Maharashtra Housing and Area Development Act, 1976
(2)With effect from the date specified in the notification under subsection (1)-(a)all the members shall vacate their office;(b)all properties, funds and dues which are vested in or realisable by the Authority shall vest in, and be realisable, by the State Government;(c)all liabilities enforceable against the Authority shall be enforceable against the State Government to the extent of the properties, funds, and dues vested in, or realised by the State Government.
