§ 23112. Distribution of assets on dissolution or final liquidation
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/usc/title-36/section-23112A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 consistent with the purposes of the corporation and in compliance with the charter and bylaws.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1314.)
The word “satisfaction” is omitted as included in “discharge”, and the word “obligations” is omitted as included in “liabilities”. The words “outstanding” and “all Federal and State laws applicable thereto” are omitted as unnecessary.
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- Pub. L. 105–225
- 112 Stat. 1314
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§ 23112
Distribution of assets on dissolution or final liquidation
Pub. L.Pub. L. 105–225
Stat.112 Stat. 1314
Cites 2Cited by 0 across 0 sources