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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. § 154113 Distribution of assets on dissolution or final liquidation us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 1541 NAVAL SEA CADET CORPS 154113 36 U.S.C. § 154113 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/s154113 data/legal/raw/us/code/title-36/usc36.xml ced661c76c01d86e926715cc855d9bcd0c2925979bada5c690b29717c0ebd11c d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 6766ad50e42dca5324ec4e1c5d5d4468dffb42e2254c71fc57eef069dff37fdb 2026-07-04 official
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36 U.S.C. § 154113 - 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. 1434.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 15411336:1055.Sept. 10, 1962, Pub. L. 87655, § 15, 76 Stat. 533. 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. The words “as provided by” are substituted for “in accordance with the determination of” to eliminate unnecessary words. The words “and all Federal and State laws applicable thereto” are omitted as unnecessary.