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United States Code (Last Updated: May 24, 2014) |
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Title 36. PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS |
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SubTitle II. Patriotic and National Organizations |
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Part B. Organizations |
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Chapter 1901. RESERVE OFFICERS ASSOCIATION OF THE UNITED STATES |
§ 190112. Distribution of assets on dissolution or final liquidation
Latest version.
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On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be divided equally among the then active officers and members.
Historical And Revision
Historical and Revision Notes | ||
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
190112 | 36:231 (words after 2d comma). | June 30, 1950, ch. 431, § 11 (words after 2d comma), 64 Stat. 314. |
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.