FEDERAL · 36 U.S.C. · Chapter 705
Deposit of assets on dissolution or final liquidation
36 U.S.C. § 70512
Title36 — Patriotic and National Observances
Chapter705 — THE FOUNDATION OF THE FEDERAL BAR ASSOCIATION
This text of 36 U.S.C. § 70512 (Deposit 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. § 70512.
Text
On dissolution or final liquidation of the corporation, any assets of the corporation remaining after the discharge of all liabilities shall be distributed—
(a)as provided by the board of directors; and
(b)in compliance with the charter and bylaws.
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Source Credit
History
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1354; Pub. L. 119–57, §8, Dec. 12, 2025, 139 Stat. 712.)
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.
Editorial Notes
Amendments
2025—Pub. L. 119–57 amended section generally. Prior to amendment, text read as follows: "On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be deposited in the Treasury of the United States as a miscellaneous receipt."
Editorial Notes
Amendments
2025—Pub. L. 119–57 amended section generally. Prior to amendment, text read as follows: "On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be deposited in the Treasury of the United States as a miscellaneous receipt."
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Bluebook (online)
36 U.S.C. § 70512, Counsel Stack Legal Research, https://law.counselstack.com/usc/36/70512.