36 U.S.C. § 70512 — Deposit 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 · 40 words · no verdicts yet
This section governs distribution of the corporation’s assets after dissolution or final liquidation. It applies to assets remaining after all liabilities have been discharged and requires distribution under the board’s direction and the charter and bylaws.
After dissolution or final liquidation, assets left after all liabilities are paid must be distributed as the board provides and as the charter and bylaws require.
On dissolution or final liquidation of the corporation, any assets of the corporation remaining after the discharge of all liabilities shall be distributed—
as provided by the board of directors; and
in compliance with the charter and bylaws.
Source credit: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1354; Pub. L. 119–57, § 8, Dec. 12, 2025, 139 Stat. 712.)
- 1998Enacted · Pub. L. 105-225 · 112 Stat. 1354
- 2025Amended · Pub. L. 119-57 · 139 Stat. 712
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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