36 USC § 70914
Distribution of assets on dissolution or final liquidation
October 21, 2020
On dissolution or final liquidation of the FFA, any assets remaining after the discharge of all liabilities shall be used by the board of directors for the benefit of students of agricultural education or be transferred to a recognized educational foundation.
Open Table|
Revised Section |
Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 70914 | 36:285. | Aug. 30, 1950, ch. 823, §15, 64 Stat. 566. |
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
2019—Pub. L. 116–7 substituted "FFA" for "corporation" and "agricultural education" for "vocational agriculture".
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