Title 36, Patriotic and National ObservancesRelease 119-102
§23112 Distribution of Assets on Dissolution or Final Liquidation
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 231 — AVIATION HALL OF FAME › § 23112
Summary
When closed and debts paid, trustees must distribute remaining assets per purpose, bylaws.
Full Legal Text
Title 36, §23112
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 trustees, but consistent with the purposes of the corporation and in compliance with the charter and bylaws.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 2311236:4316.July 14, 1964, Pub. L. 88–372, § 16, 78 Stat. 318. 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. § 23112
Title 36, Patriotic and National Observances
Last Updated
Aug 21, 2026
Release point: 119-102