On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be transferred by the board of directors to a recognized agency or agencies engaged in the furtherance and advancement of citizenship.
Pub. L. 105–225112 Stat. 1394(, , .)
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Historical and Revision Notes |
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
150713 | 36:445. | |
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.