2011 US Code
Title 36 - Patriotic and National Observances, Ceremonies, Andorganizations
Subtitle II - Patriotic and National Organizations (§§ 10101 - 240112)
Part B - Organizations (§§ 20101 - 240112)
Chapter 2201 - UNITED SERVICE ORGANIZATIONS, INCORPORATED (§§ 220101 - 220114)
Section 220114 - Distribution of assets on dissolution or final liquidation
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, ANDORGANIZATIONS |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 36 - PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, ANDORGANIZATIONS Subtitle II - Patriotic and National Organizations Part B - Organizations CHAPTER 2201 - UNITED SERVICE ORGANIZATIONS, INCORPORATED Sec. 220114 - Distribution of assets on dissolution or final liquidation |
| Contains | section 220114 |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | Yes |
| Disposition | standard |
| Source Credit | Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1462. |
| Statutes at Large References | 93 Stat. 1269 112 Stat. 1462 |
| Public Law References | Public Law 96-165, Public Law 105-225 |
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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 governors, but in compliance with the bylaws. However, the assets of the corporation are irrevocably dedicated to charitable purposes and may not inure to the benefit of a private person except a fund, foundation, or organization operated exclusively for charitable purposes.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1462.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 220114 | 36:1304(c). | Dec. 29, 1979, Pub. L. 96–165, §4(c), 93 Stat. 1269. |
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” for consistency in the revised title. The words “and all Federal and State laws applicable thereto” are omitted as unnecessary. The word “organization” is substituted for “association, or corporation” to omit unnecessary words.
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