Title 36 — Patriotic and National ObservancesRelease 119-73not60
§110310 Distribution of Assets on Dissolution or Final Liquidation
Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 1103— JEWISH WAR VETERANS, U.S.A., NATIONAL MEMORIAL, INCORPORATED › § 110310
Summary
When the corporation closes and pays its debts, the board distributes remaining assets under constitution and bylaws; assets cannot benefit officers, employees, or private persons.
Full Legal Text
Title 36, §110310
Patriotic and National Observances — Source: USLM XML via OLRC
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. This section does not allow assets to be distributed to an officer or employee or to inure to the benefit of a private person.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 11031036:924.Sept. 2, 1958, Pub. L. 85–903, § 14, 72 Stat. 1741. The words “dissolution or final liquidation” are substituted for “final dissolution or liquidation” for consistency in the revised title. 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. The words “This section does not allow” are substituted for “Nothing in this section shall be construed so as to permit” for consistency in the revised title.
Reference
Citations & Metadata
Citation
36 U.S.C. § 110310
Title 36 — Patriotic and National Observances
Last Updated
Apr 5, 2026
Release point: 119-73not60