§ 70914. Distribution of assets on dissolution or final liquidation
103 words·~1 min read·
/usc/title-36/section-70914A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.)
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.
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- Pub. L. 105–225
- 112 Stat. 1359
- 133 Stat. 482
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§ 70914
Distribution of assets on dissolution or final liquidation
Pub. L.Pub. L. 105–225
Stat.112 Stat. 1359
Stat.133 Stat. 482
Cites 4Cited by 0 across 0 sources