Title 36 — Patriotic and National ObservancesRelease 119-73not60

§220114 Distribution of Assets on Dissolution or Final Liquidation

Title 36 › Subtitle Subtitle II— Patriotic and National Organizations › Part B— Organizations › Chapter 2201— UNITED SERVICE ORGANIZATIONS, INCORPORATED › § 220114

Last updated Apr 5, 2026|Official source

Summary

When the corporation is dissolved or finally closed, any assets left after paying all debts must be distributed by the board of governors and must follow the bylaws. All assets are permanently set aside for charitable purposes and cannot go to a private person, except they may be given to a fund, foundation, or organization that is run only for charitable purposes.

Full Legal Text

Title 36, §220114

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 governors, but in compliance with the bylaws. However, the assets of the corporation are irrevocably dedicated to charitable purposes and may not inure to the benefit of a private person except a fund, foundation, or organization operated exclusively for charitable purposes.

Legislative History

Notes & Related Subsidiaries

Historical and Revision Notes

Revised SectionSource (U.S. Code)Source (Statutes at Large) 22011436:1304(c).Dec. 29, 1979, Pub. L. 96–165, § 4(c), 93 Stat. 1269. 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. The words “as provided by” are substituted for “in accordance with the determination of” for consistency in the revised title. The words “and all Federal and State laws applicable thereto” are omitted as unnecessary. The word “organization” is substituted for “association, or corporation” to omit unnecessary words.

Reference

Citations & Metadata

Citation

36 U.S.C. § 220114

Title 36 — Patriotic and National Observances

Last Updated

Apr 5, 2026

Release point: 119-73not60