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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 36 U.S.C. § 152312 Distribution of assets on dissolution or final liquidation us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1523 NATIONAL MUSIC COUNCIL 152312 36 U.S.C. § 152312 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc36@119-100.zip /us/usc/t36/s152312 data/legal/raw/us/code/title-36/usc36.xml f43ffdfe4c4316f2fd522d2712a04179ff78cee411b9fc8503f54c7873328dee d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d ba0c7916e419ba90b8c1fddd776caa5e3d5701a5ea3dcb8b3e19b7584d07c037 2026-07-04 official
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36 U.S.C. § 152312 - Distribution of assets on dissolution or final liquidation

Text

On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be used by the board of directors for the purposes stated in section 152302 of this title or be transferred to a recognized educational foundation.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1414.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 15231236:675.Aug. 1, 1956, ch. 824, § 15, 70 Stat. 797. 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.