§ 1715. Retransfer of academy to its former trustees. If there shall
be, in a dissolved union free school district, an academy which shall
have been adopted as the academic department of the union free school
district, under the provisions of title nine, chapter five hundred
fifty-five of the laws of eighteen hundred sixty-four, and any amendment
thereof, or title eight of chapter five hundred fifty-six of the laws of
eighteen hundred ninety-four, and any amendment thereof, or under this
chapter, it shall, upon the application of a majority of the surviving
resident former trustees or stockholders, be transferred by the board of
education to said former trustees or stockholders.