§170111. Distribution of assets on dissolution or final liquidation
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§170111. Distribution of assets on dissolution or final liquidation
On dissolution or final liquidation of the corporation, any assets remaining after the discharge or satisfactory provision for discharge of all liabilities shall be transferred to the Secretary of Veterans Affairs to be applied to the care and comfort of paralyzed veterans.
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 170111 | 36:1159. | Aug. 11, 1971, Pub. L. 92–93, §9, 85 Stat. 318; June 13, 1991, Pub. L. 102–54, §13(n)(5), 105 Stat. 278. |
The words "dissolution or final liquidation" are substituted for "final dissolution or liquidation" for consistency in the revised title. 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.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.