36 USC § 30312
Distribution of assets on dissolution or final liquidation
October 21, 2020
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be transferred to the Secretary of Veterans Affairs to be applied to the care and comfort of blinded veterans.
Open Table|
Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 30312 | 36:865. | Aug. 27, 1958, Pub. L. 85–769, §15, 72 Stat. 927; June 13, 1991, Pub. L. 102–54, §13(n)(4), 105 Stat. 278. |
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 "Secretary of Veterans Affairs" are substituted for "Department of Veterans Affairs" because under 38:303 the Secretary is the head of the Department.
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