§20111. Use of assets on dissolution or final liquidation
Enacted 1998 · reading the current textFull lineage →
As of today
View this section as of a date
Notable points in this section's history
Latest NOW As originally enacted Aug 12, 199836 U.S.C. § 20111
On dissolution or final liquidation of the corporation, any assets of the corporation remaining after the discharge of all liabilities shall be distributed as provided by the board of governors, but in compliance with the charter and bylaws.
Notes, amendments, and revision history
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1286.)
| Historical and Revision Notes | ||
|---|---|---|
| Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
| 20111 | 36:985. | Aug. 31, 1960, Pub. L. 86–680, § 15, 74 Stat. 577. |
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.