Title 36 of the U.S. Code § 130113 - Distribution of assets on dissolution or final liquidation
Full text of § 130113 from Title 36 of the United States Code.
§ 130113. 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.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1373.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 130113 | 36:78p. | June 17, 1959, Pub. L. 86–47, §17, 73 Stat. 80. |
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" for consistency in the revised title and to eliminate unnecessary words. The reference to the "council of administration" is retained although there is no council of administration created by 36:78e or 36:78f. The words "all Federal and State laws applicable thereto" are omitted as unnecessary.
CHAPTER 1303—LEGION OF VALOR OF THE UNITED STATES OF AMERICA, INCORPORATED
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36 U.S.C. § 130113 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.
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