1. When a county is abolished as provided in Section 36 of Article 4 of the Constitution of the State of Nevada, and NRS 243.420 to 243.455, inclusive, and all the territory thereof is included within an existing county, the property of the abolished school district shall become the property of the county school district to which the territory is annexed.
2. When a county is abolished as provided in Section 36 of Article 4 of the Constitution of the State of Nevada, and NRS 243.420 to 243.455, inclusive, and all the territory thereof is included within the territory of two or more existing counties, the personal property of the abolished school district shall be divided among the county school districts to which the territory is attached in the same proportion as the ratio of the assessed valuation of the territory added to each county bears to the total assessed valuation of the abolished county. All real property of the school district situated in the territory added to a county shall become the property of the school district of which it becomes a part.
[445:32:1956]
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