36 U.S. Code § 20111 - Use of assets on dissolution or final liquidation

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

Source

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1286.)

Historical and Revision Notes
Revised Section Source (U.S. Code) Source (Statutes at Large)
20111
36:985.
Aug. 31, 1960, Pub. L. 86–680, § 15, 74 Stat. 577.

The word “satisfaction” is omitted as included in “discharge”, and the word “obligations” is omitted as included in “liabilities”. The words “outstanding” and “all Federal and State laws applicable thereto” are omitted as unnecessary.

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The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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36 USCDescription of ChangeSession YearPublic LawStatutes at Large

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