36-U.S.C.-110310

36-U.S.C.-110310

§110310 – Distribution of Assets On Dissolution Or Final Liquidation

Pathway

Title 36 > Subtitle II > Part B > Chapter 1103 > Section 110310

Details

  • Reference: Section 110310
  • Legend: §110310 – Distribution of Assets On Dissolution Or Final Liquidation
  • USCode Year: 2013

Provision Content

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.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1370.)

Historical and Revision Notes
Revised
Section
Source (U.S. Code) Source (Statutes at Large)
110310 36:924. Sept. 2, 1958, Pub. L. 85–903, §14, 72 Stat. 1741.

The words dissolution or final liquidation are substituted for final dissolution or liquidation for consistency in the revised title. The word satisfaction is omitted as included in discharge, and the word obligations is omitted as included in liabilities. The words outstanding and all Federal and State laws applicable thereto are omitted as unnecessary. The words This section does not allow are substituted for Nothing in this section shall be construed so as to permit for consistency in the revised title.

U.S. Encyclopedia of Law Coverage

36-U.S.C.-110306 in the Legal Encyclopedia: Patriotic Organizations

In this entry about 36-U.S.C.-110306, find legal reference material, bibliographies and premiere content related to patriotic organizations in the American Encyclopedia of Law, presenting a comprehensive view of the United States patriotic organizations-specific issues, written by authorities in the field.

36-U.S.C.-110101 in the Legal Encyclopedia: War

In this entry about 36-U.S.C.-110101, find legal reference material, bibliographies and premiere content related to war in the American Encyclopedia of Law, presenting a comprehensive view of the United States war-specific issues, written by authorities in the field.

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