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ARTICLE V COM~{ISSION MERGER Upon the effective date of this Charter Agreement, Southeastern Virginia Planning District Commission and the Peninsula Planning District Commission shall merge into the Hampton Roads Planning District Commission, which shall be the surviving entity and which shall be entitled to all the assets and shall assume all the liabilities of the two entities. ARTICLE VI ADDITION OR WITHDRAWAL OF PARTy TO THIS CHARTER AGRRRN~.~T 1. Addition. Any governmental subdivision within Planning District Nos. Twenty or Twenty-One which is not a party to this ~h~rter-Agreemen~at~qS~effective~d~te hereof ma~ thereafter 3omn the COMMISSION at the end of the COMMISSION's then current fiscal year, provided that such governmental subdivision is eligible for membership and that the governing body of the governmental subdivision previous thereto adopts and executes this Charter Agreement. 2. Withdrawals. Any Governing Body may withdraw its Subdivision from the COMMISSION by submitting to the COMMISSION in writing, at least sixty days before the end of the COMMISSION's then current fiscal year, a notice of intent t~ withdraw. All withdrawals shall become effective at the end of the fiscal year. A notice of intent to withdraw may be withdrawn or cancelled by the Governing Body concerned at any time prior to the effective date of the withdrawal. 3. Chanqe of Charter. Within sixty days of receipt of such notification of intent to join or withdraw, the COMMISSION shall submit a report to the remaining Governing Bodies that would recommend any modifications to the Charter Agreement or bylaws of the COMMISSION which are necessary as a result of said addition or withdrawal. 4. Assets and Liabilities. Upon withdrawal of a Subdivision from the COMMISSION, all of its interest in the assets and responsibilities for the liabilities of the Commission shall cease and terminate as of the effective date of such withdrawal. 5. ~O~ratin_g_~osts. Upon th~ addition of a Subdivision to the COMMISSION, its responsibilities for its pro rata share of the operation of the COMMISSION shall begin on the effective date of such addition. 4