36 U.S. Code § 80106 - Distribution of assets on dissolution

§ 80106.
Distribution of assets on dissolution

On dissolution of the corporation, the board of directors shall liquidate and distribute its assets to organizations qualified as exempt organizations under section 501(c)(3) of the Internal Revenue Code of 1986 (26 U.S.C. 501(c)(3)) with purposes similar to those of the corporation.

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

80106

36:3501(c).

Mar. 3, 1901, ch. 860, § 1(c), as added Aug. 7, 1986, Pub. L. 99–376, § 1(3), 100 Stat. 804.

 

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