FEDERAL · 36 U.S.C. · Chapter 405
Distribution of assets on dissolution or final liquidation
36 U.S.C. § 40511
Title36 — Patriotic and National Observances
Chapter405 — CONGRESSIONAL MEDAL OF HONOR SOCIETY OF THE UNITED STATES OF AMERICA
This text of 36 U.S.C. § 40511 (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. § 40511.
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 in compliance with the bylaws.
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Source Credit
History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1335.)
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 "all Federal and State laws applicable thereto" are omitted as unnecessary.
Editorial Notes
Amendments
2016—Pub. L. 114–328, div. A, title X, §1096(c), Dec. 23, 2016, 130 Stat. 2441, added item 40728B.
2006—Pub. L. 109–364, div. A, title III, §354(b), Oct. 17, 2006, 120 Stat. 2162, added item 40728A.
Editorial Notes
Amendments
2016—Pub. L. 114–328, div. A, title X, §1096(c), Dec. 23, 2016, 130 Stat. 2441, added item 40728B.
2006—Pub. L. 109–364, div. A, title III, §354(b), Oct. 17, 2006, 120 Stat. 2162, added item 40728A.
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Bluebook (online)
36 U.S.C. § 40511, Counsel Stack Legal Research, https://law.counselstack.com/usc/36/40511.