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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. § 22312 Distribution of assets on dissolution or final liquidation us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 223 AMERICAN SYMPHONY ORCHESTRA LEAGUE 22312 36 U.S.C. § 22312 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/s22312 data/legal/raw/us/code/title-36/usc36.xml 889c6bb5ab15ff95bb9ccdd2f47d0bee102726010bda26acdfb8b4efc903a0ff d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 79f13874eb7b304c6ad53747783845f112fe7e044a253327f45d3a173da71577 2026-07-04 official
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36 U.S.C. § 22312 - 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. 1304.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 2231236:3415.Oct. 15, 1962, Pub. L. 87817, § 15, 76 Stat. 933. 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.