36 U.S.C. § 20111

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 20111 - Use of assets on dissolution or final liquidation

On dissolution or final liquidation of the corporation, any assets of the corporation remaining after the discharge of all liabilities shall be distributed as provided by the board of governors, but in compliance with the charter and bylaws.

36 U.S.C. § 20111

Pub. L. 105-225, 112 Stat. 1286.

HISTORICAL AND REVISION NOTES
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
20111	36:985.	Aug. 31, 1960, Pub. L. 86-680, §15, 74 Stat. 577.

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.