Title 36, Patriotic and National ObservancesRelease 119-102
§152312 Distribution of Assets on Dissolution or Final Liquidation
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 1523 — NATIONAL MUSIC COUNCIL › § 152312
Summary
At dissolution after debts paid, board must use assets for 152302 purposes or transfer to recognized foundation.
Full Legal Text
Title 36, §152312
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 used by the board of directors for the purposes stated in section 152302 of this title or be transferred to a recognized educational foundation.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 15231236:675.Aug. 1, 1956, ch. 824, § 15, 70 Stat. 797. 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.
Reference
Citations & Metadata
Citation
36 U.S.C. § 152312
Title 36, Patriotic and National Observances
Last Updated
Aug 21, 2026
Release point: 119-102