FEDERAL · 36 U.S.C. · Chapter 1535
Distribution of assets on dissolution or final liquidation
36 U.S.C. § 153513
Title36 — Patriotic and National Observances
Chapter1535 — NATIONAL TROPICAL BOTANICAL GARDEN
This text of 36 U.S.C. § 153513 (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. § 153513.
Text
(a)Allowable Recipients.—On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed, as decided by the board of trustees, to—
(b)Restriction.—A distribution under subsection (a) of this section shall be consistent with the purposes of the corporation and in compliance with the charter and bylaws.
Free access — add to your briefcase to read the full text and ask questions with AI
Related
Source Credit
History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1427; Pub. L. 109–284, §5(10), Sept. 27, 2006, 120 Stat. 1212; Pub. L. 113–287, §5(i), Dec. 19, 2014, 128 Stat. 3269.)
Editorial Notes
In subsection (a), the words "the discharge of all liabilities" are substituted for "the corporation's liabilities have been satisfied" for consistency in the revised title. In clause (1), the words "as amended and supplemented" are omitted as unnecessary.
In subsection (b), the words "and Federal and State laws" are omitted as unnecessary.
Editorial Notes
Amendments
2014—Subsec. (a)(1). Pub. L. 113–287 substituted "section 100101(a), chapter 1003, and sections 100751(a), 100752, 100753, and 102101 of title 54, United States Code" for "the Act of August 25, 1916 (16 U.S.C. 1 et seq.) (known as the National Park Service Organic Act)".
2006—Subsec. (a)(1). Pub. L. 109–284 substituted "(16 U.S.C. 1 et seq.) (known as the National Park Service Organic Act)" for "(16 U.S.C. 1 et seq.), known as the National Park Service Organic Act))".
In subsection (b), the words "and Federal and State laws" are omitted as unnecessary.
Editorial Notes
Amendments
2014—Subsec. (a)(1). Pub. L. 113–287 substituted "section 100101(a), chapter 1003, and sections 100751(a), 100752, 100753, and 102101 of title 54, United States Code" for "the Act of August 25, 1916 (16 U.S.C. 1 et seq.) (known as the National Park Service Organic Act)".
2006—Subsec. (a)(1). Pub. L. 109–284 substituted "(16 U.S.C. 1 et seq.) (known as the National Park Service Organic Act)" for "(16 U.S.C. 1 et seq.), known as the National Park Service Organic Act))".
Cite This Page — Counsel Stack
Bluebook (online)
36 U.S.C. § 153513, Counsel Stack Legal Research, https://law.counselstack.com/usc/36/153513.