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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 301. BIG BROTHERS—BIG SISTERS OF AMERICA |
§ 30112. 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 distributed as provided by the board of directors, but in compliance with the constitution and bylaws of the corporation.
Historical And Revision
Historical and Revision Notes | ||
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Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
30112 | 36:897. | Sept. 2, 1958, Pub. L. 85–870, § 17, 72 Stat. 1695. |
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.