36 U.S.C. § 50309 — Dissolution

submitted 10 years ago by Pub. L. 114-135 to r/title-36-PATRIOTIC-AND-NATIONAL-OBSERVANCES-CEREMONIES-AND-ORGANIZATIONS · 38 words · no verdicts yet

in plain englishAI-generated · not legal advice

If the corporation dissolves or finally liquidates, any assets left after paying off all its debts go to the Secretary of Veterans Affairs. Those remaining assets must be used to care for disabled veterans.

If the corporation dissolves or is finally liquidated, whatever assets remain after paying off — or setting aside enough to pay off — all its debts must be transferred to the Secretary of Veterans Affairs, to be used for the care of disabled veterans.

the actual law source: uscode.house.gov ↗public domain

On dissolution or final liquidation of the corporation, any assets remaining after the discharge or satisfactory provision for the discharge of all liabilities shall be transferred to the Secretary of Veterans Affairs for the care of disabled veterans.

Source credit: (Added Pub. L. 114–135, § 1(b), Mar. 18, 2016, 130 Stat. 300.)

history & why it existsrecord from the source credit

2016Enacted · Pub. L. 114-135 · 130 Stat. 300

A history note hasn’t been published yet. The record shows enactment by Pub. L. 114-135 on 2016-03-18.

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