36 U.S. Code § 70914. Distribution of assets on dissolution or final liquidation

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On dissolution or final liquidation of the FFA, any assets remaining after the discharge of all liabilities shall be used by the board of directors for the benefit of students of agricultural education or be transferred to a recognized educational foundation.

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

70914

36:285.

Aug. 30, 1950, ch. 823, § 15, 64 Stat. 566.

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.

Amendments

2019—Pub. L. 116–7 substituted “FFA” for “corporation” and “agricultural education” for “vocational agriculture”.