Title 36, Patriotic and National ObservancesRelease 119-102
§151911 Distribution of Assets on Dissolution or Final Liquidation
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1519 — NATIONAL FUND FOR MEDICAL EDUCATION › § 151911
Summary
Board must distribute any leftover assets after all debts are paid, under the corporation’s constitution and bylaws.
Full Legal Text
Title 36, §151911
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) 15191136:615.Aug. 28, 1954, ch. 1036, § 15, 68 Stat. 895. 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. § 151911
Title 36, Patriotic and National Observances
Last Updated
Aug 21, 2026
Release point: 119-102