36 USC 130113: Distribution of assets on dissolution or final liquidation

36 USC 130113: Distribution of assets on dissolution or final liquidation Text contains those laws in effect on November 21, 2024

From Title 36-PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONSSubtitle II-Patriotic and National OrganizationsPart B-OrganizationsCHAPTER 1301-LADIES OF THE GRAND ARMY OF THE REPUBLIC

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§130113. Distribution of assets on dissolution or final liquidation

On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed as provided by the council of administration, but in compliance with the constitution and bylaws of the corporation.

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1373 .)

Historical and Revision Notes
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
130113	36:78p.	June 17, 1959, Pub. L. 86–47, §17, 73 Stat. 80 .

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. The words "as provided by" are substituted for "in accordance with the determination of" for consistency in the revised title and to eliminate unnecessary words. The reference to the "council of administration" is retained although there is no council of administration created by 36:78e or 36:78f. The words "all Federal and State laws applicable thereto" are omitted as unnecessary.