FEDERAL · 36 U.S.C. · Chapter 705
Deposit of assets on dissolution or final liquidation
Current through Pub. L. 119-102
Title 36 — Patriotic and National Observances·Ch. 705 — THE FOUNDATION OF THE FEDERAL BAR ASSOCIATION
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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36 U.S.C. § 70512 (Deposit 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. 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."