Us Code § 70914 - Distribution of assets on dissolution or final liquidation
Full text of Us Code United States Code § 70914 — Distribution of assets on dissolution or final liquidation, with citation guidance and answers to common questions.
§ 70914. Distribution of assets on dissolution or final liquidation
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.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1359; Pub. L. 116–7, §15, Feb. 21, 2019, 133 Stat. 482.)
| 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.
Editorial Notes
Amendments
2019—Pub. L. 116–7 substituted "FFA" for "corporation" and "agricultural education" for "vocational agriculture".
CHAPTERS 711 THROUGH 799—RESERVED
Editorial Notes
Amendments
2014—Pub. L. 113–237, §3(b)(6), Dec. 18, 2014, 128 Stat. 2837, added placeholder for chapters 711 to 799.
CHAPTER 801—GENERAL FEDERATION OF WOMEN'S CLUBS
About This Section
36 U.S.C. § 70914 is part of Title 36 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
This section may be cited in legal writing as 36 U.S.C. § 70914. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.
How to Read This Statute
Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.
Using This Page
This page is intended for research and educational use. Lawyers, students, journalists, and compliance professionals can use it as a starting point, but should always verify the current text through an official government source before relying on it for legal advice, filings, or compliance decisions.