§ 20111. Use of assets on dissolution or final liquidation


Latest version.
  • On dissolution or final liquidation of the corporation, any assets of the corporation remaining after the discharge of all liabilities shall be distributed as provided by the board of governors, but in compliance with the charter and bylaws.

(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1286.)

Historical And Revision

Historical and Revision Notes

Revised

Section

Source (U.S. Code)

Source (Statutes at Large)

20111

36:985.

Aug. 31, 1960, Pub. L. 86–680, § 15, 74 Stat. 577.

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.