Home/U.S. Code/Title 36/Ch. 1523/§ 152312
FEDERAL · 36 U.S.C. · Chapter 1523

Distribution of assets on dissolution or final liquidation

Current through Pub. L. 119-102
Title 36 — Patriotic and National Observances·Ch. 1523 — NATIONAL MUSIC COUNCIL
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be used by the board of directors for the purposes stated in section 152302 of this title or be transferred to a recognized educational foundation.

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36 U.S.C. § 152312 (Distribution of assets on dissolution or final liquidation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Related

§ 152302
36 U.S.C. § 152302

Source Credit

History

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1414.)

Editorial Notes

The word "satisfaction" is omitted as included in "discharge", and the word "obligations" is omitted as included in "liabilities". The word "outstanding" is omitted as unnecessary.