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36 U.S.C. § 190112 — 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 · 28 words · no verdicts yet
in plain englishAI-generated · not legal advice
When the corporation is dissolved or finally liquidated, its assets left after all liabilities are paid must be divided equally among its active officers and members at that time.
When the corporation is dissolved or finally liquidated, any assets left after all liabilities are paid must be divided equally among the officers and members who are active at that time.
the actual law source: uscode.house.gov ↗public domain
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be divided equally among the then active officers and members.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1449.)
history & why it existsrecord from the source credit
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1449
A history note hasn’t been published yet. The record shows enactment by Pub. L. 105-225 on 1998-08-12.
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