Sec 48-823. Disposition of assets on consolidation of fire districts

A. If fire districts established under this article are consolidated, all the equipment, assets and liabilities of the affected districts shall be transferred to the fire district created by the consolidation.

B. All assets and liabilities of whatever description and all books and records belonging to the fire fighters' relief and pension fund of consolidated fire districts shall be transferred to and become the property of the fire fighters' relief and pension fund of the fire district created by the consolidation.

C. On consolidation of fire districts pursuant to section 48-822, the fire districts that were consolidated into another fire district are dissolved by operation of law and no longer exist and the newly organized and consolidated fire district is a separate and new legal entity by operation of law.