Single Source, Inc. v. Central Regional Tourism District, Inc.

Summary

The court held that the regional tourism district was not the legal successor to the legislatively dissolved local tourism district because the statutory scheme made assumption of the local district's liabilities discretionary and subject to specified conditions. The court further held that an entity receiving assets from the local district could be responsible for its obligations if the transfer was fraudulent, but only to the value of the assets received. The court did not answer the certified question concerning the statutory defense available to a legal successor.