FEDERAL · 36 U.S.C. · Chapter 2003
Distribution of assets on dissolution or final liquidation
Current through Pub. L. 119-102
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed as provided by the council of administration, but in compliance with the constitution and bylaws of the corporation.
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36 U.S.C. § 200313 (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. 1455.)
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. The words "as provided by" are substituted for "in accordance with the determination of" to eliminate unnecessary words. The words "and all Federal and States laws applicable thereto" are omitted as unnecessary.
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(17), Dec. 18, 2014, 128 Stat. 2839, added placeholder for chapters 2005 to 2099.
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(17), Dec. 18, 2014, 128 Stat. 2839, added placeholder for chapters 2005 to 2099.