§150713. Distribution of assets on dissolution or final liquidation
36 U.S.C. § 150713
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be transferred by the board of directors to a recognized agency or agencies engaged in the furtherance and advancement of citizenship.
Notes, amendments, and revision history
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1394.)
| Historical and Revision Notes | ||
|---|---|---|
| Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
| 150713 | 36:445. | Aug. 13, 1953, ch. 427, § 15, 67 Stat. 565. |
The word “satisfaction” is omitted as included in “discharge”, and the word “obligations” is omitted as included in “liabilities”. The word “outstanding” is omitted as unnecessary.