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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. § 150912 Distribution of assets on dissolution or final liquidation us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1509 NATIONAL COUNCIL ON RADIATION PROTECTION AND MEASUREMENTS 150912 36 U.S.C. § 150912 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/s150912 data/legal/raw/us/code/title-36/usc36.xml 420b6d79840f17c32aaf5b74f2b4f50a4c556000992b2609f2d859d2ba23a835 d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d da216f7ab93118b3589c96a1af39924227da0693eb1992483eabbef7d1cdfc2a 2026-07-04 official
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36 U.S.C. § 150912 - 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 consistent with the purposes of the corporation and in compliance with the bylaws.

(Pub. L. 105225, Aug. 12, 1998, 112 Stat. 1397.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 15091236:4515.July 14, 1964, Pub. L. 88376, § 15, 78 Stat. 324. The word “satisfaction” is omitted as included in “discharge”, and the word “obligations” is omitted as included in “liabilities”. The words “outstanding” and “and all Federal and State laws applicable thereto” are omitted as unnecessary.