Title 36 — Patriotic and National Observances, Ceremonies, and Organizations
Part B · Chapter 705 — The Foundation of the Federal Bar Association
§ 70512. Deposit of assets on dissolution or final liquidation
Statutory text
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 directors; and
in compliance with the charter and bylaws.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 105–225 · 112 Stat. 1253
Enacted · 36 U.S.C. § 70512
Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1354
Source evidence
Code source credit
Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1354Pub. L. 119–57 § 8 · 139 Stat. 712
Amended · 36 U.S.C. § 70512
Pub. L. 119–57 amended section generally. Prior to amendment, text read as follows: “On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be deposited in the Treasury of the United States as a miscellaneous receipt.”
Unresolved: Pub. L. 119–57 was not found in the local Statutes at Large index.
Source evidence
Code amendment note
Pub. L. 119–57 amended section generally. Prior to amendment, text read as follows: “On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be deposited in the Treasury of the United States as a miscellaneous receipt.”
0 of 2 references resolved to an enrolled provision · 1 partial · 1 unresolved
Notes
historicalAndRevision
| Historical and Revision Notes | ||
|---|---|---|
| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| 70512 | 36:585. | Aug. 24, 1954, ch. 911, § 15, 68 Stat. 800. |
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.
Editorial Notes
Amendments
2025—Pub. L. 119–57 amended section generally. Prior to amendment, text read as follows: “On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be deposited in the Treasury of the United States as a miscellaneous receipt.”
Credits
1998–2025 · 2 acts
- 1998Pub. L. 105–225, , 112 Stat. 1354
- 2025Pub. L. 119–57, § 8, , 139 Stat. 712.
Show as published
(Pub. L. 105–225, , 112 Stat. 1354; Pub. L. 119–57, § 8, , 139 Stat. 712.)