FEDERAL · 36 U.S.C. · Chapter 1509
Distribution of assets on dissolution or final liquidation
Current through Pub. L. 119-102
Title 36 — Patriotic and National Observances·Ch. 1509 — NATIONAL COUNCIL ON RADIATION PROTECTION AND MEASUREMENTS
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 bylaws.
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36 U.S.C. § 150912 (Distribution of assets on dissolution or final liquidation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1397.)
Editorial Notes
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.