36 USC 150713: Distribution of assets on dissolution or final liquidation
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36 USC 150713: Distribution of assets on dissolution or final liquidation Text contains those laws in effect on June 30, 2024
From Title 36-PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONSSubtitle II-Patriotic and National OrganizationsPart B-OrganizationsCHAPTER 1507-NATIONAL CONFERENCE ON CITIZENSHIP
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§150713. Distribution of assets on dissolution or final liquidation

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. 105–225, Aug. 12, 1998, 112 Stat. 1394 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
150713 36:445. Aug. 13, 1953, ch. 427, §15, 67 Stat. 565 .

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.