FEDERAL · 36 U.S.C. · Chapter 1305
Distribution of assets on dissolution or final liquidation
36 U.S.C. § 130513
Title36 — Patriotic and National Observances
Chapter1305 — LITTLE LEAGUE BASEBALL, INCORPORATED
This text of 36 U.S.C. § 130513 (Distribution of assets on dissolution or final liquidation) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
36 U.S.C. § 130513.
Text
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed as provided by the board of directors, but consistent with the purposes of the corporation and in compliance with the constitution and bylaws of the corporation.
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History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1379.)
Editorial Notes
The words "dissolution or final liquidation" are substituted for "final dissolution or liquidation" for consistency in the revised title. The word "satisfaction" is omitted as included in "discharge", and the word "obligations" is omitted as included in "liabilities". The words "outstanding" and "and all Federal and State laws applicable thereto" are omitted as unnecessary.
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(12), Dec. 18, 2014, 128 Stat. 2838, added placeholder for chapters 1307 to 1399.
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(12), Dec. 18, 2014, 128 Stat. 2838, added placeholder for chapters 1307 to 1399.
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Bluebook (online)
36 U.S.C. § 130513, Counsel Stack Legal Research, https://law.counselstack.com/usc/36/130513.