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36 U.S.C. § 30712 — 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 · 43 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section sets rules about Distribution of assets on dissolution or final liquidation. It assigns the listed duties, permissions, limits, or procedures to the people and organizations identified in the section.

On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities must be used by the board of directors for the purpose stated in section 30702 of this title or be transferred to a recognized educational foundation.
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 used by the board of directors for the purpose stated in section 30702 of this title or be transferred to a recognized educational foundation.

Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1324.)

history & why it existsrecord from the source credit
  • 1998Enacted · Pub. L. 105-225 · 112 Stat. 1324

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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