§ 70512. Deposit of assets on dissolution or final liquidation
133 words·~1 min read·
/usc/title-36/section-70512A 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 of the corporation remaining after the discharge of all liabilities shall be distributed—
(a)as provided by the board of directors; and
(b)in compliance with the charter and bylaws.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1354; Pub. L. 119–57, § 8, Dec. 12, 2025, 139 Stat. 712.)
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.
Connectionstraces to 1
Traces to 1 document
3 references not yet in our index
- Pub. L. 105–225
- 112 Stat. 1354
- 139 Stat. 712
Citation graph
cites case law
§ 70512
Deposit of assets on dissolution or final liquidation
Pub. L.Pub. L. 105–225
Stat.112 Stat. 1354
Stat.139 Stat. 712
Cites 4Cited by 0 across 0 sources