Statute · United States Code
36 U.S.C. § 150713 — Distribution of assets on dissolution or final liquidation
36 U.S.C. § 150713
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- bankruptcy
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.
Citator
36 U.S.C. § 150713 — Distribution of assets on dissolution or final liquidation is in force in the current edition of the Code, and nothing recorded condemns it.
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.