FEDERAL · 36 U.S.C. · Chapter 709
Distribution of assets on dissolution or final liquidation
Current through Pub. L. 119-102
On dissolution or final liquidation of the FFA, any assets remaining after the discharge of all liabilities shall be used by the board of directors for the benefit of students of agricultural education or be transferred to a recognized educational foundation.
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36 U.S.C. § 70914 (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. 1359; Pub. L. 116–7, §15, Feb. 21, 2019, 133 Stat. 482.)
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
2019—Pub. L. 116–7 substituted "FFA" for "corporation" and "agricultural education" for "vocational agriculture".
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(6), Dec. 18, 2014, 128 Stat. 2837, added placeholder for chapters 711 to 799.
Editorial Notes
Amendments
2019—Pub. L. 116–7 substituted "FFA" for "corporation" and "agricultural education" for "vocational agriculture".
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(6), Dec. 18, 2014, 128 Stat. 2837, added placeholder for chapters 711 to 799.