Section 114A(2) in The Punjab Panchayati Raj Act, 1994
(2)When a Panchayat Samiti is dissolved under sub-section (1) -all members of the Panchayat Samiti shall vacate their offices forthwith;all powers and duties of the Panchayat Samiti during its dissolution, shall be exercised and performed by such person or persons, as the State Government may appoint in this behalf; andall property in the possession of the Panchayat Samiti shall be held by the State Government.