Distribution of assets on dissolution or final liquidation

  1. Law
  2. USC 36
  3. Patriotic And National Observances, Ceremonies, And Organizations
  4. Patriotic and National Organizations
  5. Organizations
  6. RESERVE OFFICERS ASSOCIATION OF THE UNITED STATES
  7. Distribution of assets on dissolution or final liquidation

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§190112. Distribution of assets on dissolution or final liquidation

On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be divided equally among the then active officers and members.

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1449 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
190112 36:231 (words after 2d comma). June 30, 1950, ch. 431, §11 (words after 2d comma), 64 Stat. 314 .

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.


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