---
kind: "section"
citation: "36 U.S.C. § 70512"
title: "36"
title_heading: "Patriotic and National Observances, Ceremonies, and Organizations"
number: "70512"
heading: "Deposit of assets on dissolution or final liquidation"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/36/70512"
units:
  - "Subtitle II — Patriotic and National Organizations"
  - "Part B — Organizations"
  - "Chapter 705 — The Foundation of the Federal Bar Association"
---

# §70512. Deposit of assets on dissolution or final liquidation


On dissolution or final liquidation of the [corporation](/usc/36/220501.md?p=b-7), any assets of the [corporation](/usc/36/220501.md?p=b-7) remaining after the discharge of all liabilities shall be distributed—

- (a) as provided by the board of directors; and
- (b) 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.)

## Notes

| Historical and Revision Notes |  |  |
| --- | --- | --- |
| Revised<br>Section | Source (U.S. Code) | Source (Statutes at Large) |
| 70512 | 36:585. | Aug. 24, 1954, ch. 911, § 15, 68 Stat. 800. |

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.

### Editorial Notes

### Amendments

2025—Pub. L. 119–57 amended section generally. Prior to amendment, text read as follows: “On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be deposited in the Treasury of the United States as a miscellaneous receipt.”