Title 36, Patriotic and National ObservancesRelease 119-102
§140511 Distribution of Assets on Dissolution or Final Liquidation
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1405 — MILITARY ORDER OF THE PURPLE HEART OF THE UNITED STATES OF AMERICA, INCORPORATED › § 140511
Summary
After debts paid, the board must distribute leftover assets under constitution and bylaws.
Full Legal Text
Title 36, §140511
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.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 14051136:835.Aug. 26, 1958, Pub. L. 85–761, § 15, 72 Stat. 859. 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.
Reference
Citations & Metadata
Citation
36 U.S.C. § 140511
Title 36, Patriotic and National Observances
Last Updated
Aug 21, 2026
Release point: 119-102