36 U.S.C. § 110310 — Distribution of assets on dissolution or final liquidation
submitted 28 years ago by Pub. L. 105-225 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 62 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed as provided by the board of directors, but in compliance with the constitution and bylaws of the corporation. This section does not allow assets to be distributed to an officer or employee or to inure to the benefit of a private person.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1370.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1370
A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.
all 0 arguments · sorted by: best
no arguments yet — make the first case