36 USC 200313: 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 2003-SONS OF UNION VETERANS OF THE CIVIL WAR
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§200313. 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.
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| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 200313 | 36:549. | Aug. 20, 1954, ch. 774, §19, |
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" to eliminate unnecessary words. The words "and all Federal and States laws applicable thereto" are omitted as unnecessary.