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2026-07-06 10:51:44 -04:00

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LegalText 36 U.S.C. § 230313 Termination of existence and distribution of assets us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 2303 VETERANS OF WORLD WAR I OF THE UNITED STATES OF AMERICA, INCORPORATED 230313 36 U.S.C. § 230313 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/s230313 data/legal/raw/us/code/title-36/usc36.xml db7f680865cde89d554e7723cf9945b802ec797c6e2a077a15d9d4120d3091b1 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d e6a83fe1cea215c69d6d3e6edd47bb67216ea19eae52c7babbb9e1db3db2ae6b 2026-07-04 official
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36 U.S.C. § 230313 - Termination of existence and distribution of assets

Text

(a) Authority To Make Contingent Provisions.— The national convention, by resolution, may declare that the corporate existence will terminate on the occurrence of a specified event and provide for the disposition of any property remaining after the discharge of all liabilities.

(b) Procedure for Carrying Out Contingent Provisions.— (1) An authenticated copy of the national conventions resolution must be filed in the office of the United States District Court for the District of Columbia.

(2) The court shall take jurisdiction when—

(A) the declared event has occurred; and

(B) a petition is filed with the court reciting the relevant facts.

(3) On proof of the facts, the court shall enter an order vesting title and ownership in accordance with the resolution of the national convention.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1485.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 23031336:779.July 18, 1958, Pub. L. 85530, § 19, 72 Stat. 375. In subsection (a), the words “declare that the corporate existence will terminate on the occurrence of a specified event” are substituted for “declare the event upon which the corporate existence of the organization is to terminate” for clarity. 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. In subsection (b)(1), the word “duly” is omitted as unnecessary. The word “must” is substituted for “shall” for clarity because the filing is only required if the national convention decides to exercise its discretionary authority under subsection (a). In subsection (b)(2)(B), the word “relevant” is substituted for “said” for clarity. In subsection (b)(3), the word “due” is omitted as unnecessary. The word “order” is substituted for “decree” for consistency in the revised title and with other titles of the United States Code. The word “vesting” is substituted for “which shall be effective to vest” to eliminate unnecessary words.