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Property, etc., of dissolved bodies.
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69.—(1) All property, whether real or personal (including choses-in-action) which immediately before the establishment date was vested in or belonged to a dissolved body or was held in trust for such body and all rights, powers, and privileges relating to or connected with any such property shall, on the establishment date and without any conveyance or assignment, become and be vested in or the property of or held in trust for the Board for all the estate, term, or interest for which the same immediately before the establishment date was vested in or belonged to or was held in trust for such body.
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(2) Every debt and other liability (including unliquidated liabilities arising from torts or breaches of contract) which immediately before the establishment date was owing and unpaid or has been incurred and was undischarged by a dissolved body shall, on the establishment date, become and be the debt or liability of the Board and shall be paid or discharged by and may be recovered from or enforced against the Board.
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(3) Every chose-in-action transferred by this section may be sued upon, recovered, or enforced by the Board in their own name, and it shall not be necessary for the Board to give notice to the person bound by such chose-in-action of the transfer effected by this section.
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