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36 U.S.C. 220315: Distribution of assets on dissolution or final liquidationText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 36-PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONSCHAPTER 2203-UNITED STATES CAPITOL HISTORICAL SOCIETY
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§220315. 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 board of trustees, but in compliance with the constitution and bylaws of the corporation.

( Pub. L. 105–225 , Aug. 12, 1998 , 112 Stat. 1465 .)

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

220315

36:1214.

Oct. 20, 1978, Pub. L. 95–493, § 14, 92 Stat. 1646.

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