(a) A watershed district may be dissolved in the same way and manner as provided for general welfare and nonprofit corporations as set out in title 48, chapters 51-68. The watershed district shall file a true and correct copy of the dissolution with the state soil conservation committee.
(b) In addition, the watershed district shall be dissolved by operation of law at the expiration of ten (10) years in the event that none of the corporate powers bestowed upon such corporations by this chapter are used. In the event a watershed district is dissolved under this subsection (b), the chair of the state soil conservation committee shall file a notice of dissolution with the secretary of state and upon such filing the watershed district shall no longer be deemed to exist. The chair of the state soil conservation committee shall file a true and correct copy of the notice of dissolution with the register of deeds of the county or counties in which the watershed district is located.
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