36 USC 152312: Distribution of assets on dissolution or final liquidation
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36 USC 152312: 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 1523-NATIONAL MUSIC COUNCIL
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§152312. 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 used by the board of directors for the purposes stated in section 152302 of this title or be transferred to a recognized educational foundation.

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1414 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
152312 36:675. Aug. 1, 1956, ch. 824, §15, 70 Stat. 797 .

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.