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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. § 140511 Distribution of assets on dissolution or final liquidation us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1405 MILITARY ORDER OF THE PURPLE HEART OF THE UNITED STATES OF AMERICA, INCORPORATED 140511 36 U.S.C. § 140511 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/s140511 data/legal/raw/us/code/title-36/usc36.xml a2f9efd958992e1e2cfbcbb290d8267c3dcea7ce67b600c39a2b11da42e1b64f d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 302ac1de189c38fb7946ff238b148ec143f27b145933cb9089f11f90c56da238 2026-07-04 official
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36 U.S.C. § 140511 - 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 distributed as provided by the board of directors, but in compliance with the constitution and bylaws of the corporation.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1384.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 14051136:835.Aug. 26, 1958, Pub. L. 85761, § 15, 72 Stat. 859. 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.