Title 36, Patriotic and National ObservancesRelease 119-102
§40511 Distribution of Assets on Dissolution or Final Liquidation
Title 36 › Subtitle II — Patriotic and National Organizations › Part B — Organizations › CHAPTER 405 — CONGRESSIONAL MEDAL OF HONOR SOCIETY OF THE UNITED STATES OF AMERICA › § 40511
Summary
After closing and paying all debts, the board distributes any leftover assets according to the bylaws.
Full Legal Text
Title 36, §40511
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 bylaws.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 4051136:805.Aug. 14, 1958, Pub. L. 85–642, § 15, 72 Stat. 600. 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. § 40511
Title 36, Patriotic and National Observances
Last Updated
Aug 21, 2026
Release point: 119-102