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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. § 31111 Distribution of assets on dissolution or final liquidation us united_states_code code_section 36 PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS 311 BOYS & GIRLS CLUBS OF AMERICA 31111 36 U.S.C. § 31111 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/s31111 data/legal/raw/us/code/title-36/usc36.xml 091dbd56381b18231e0e80570cafa3ccc0b0cd8a5c50d084f3515b06674ee3df d8bb3c94f12bbd56e49d7a2bc029b1f4ab0bb8b69327e9ddbdf94d7adcac580d 802c05b781b9d7ba1d01abaf63564bf966df554e7c0af937f061bcf64f0f2f9f 2026-07-04 official
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36 U.S.C. § 31111 - 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. 1329.)

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 3111136:705.Aug. 6, 1956, ch. 976, § 15, 70 Stat. 1056. 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.