36 USC § 154113 - Distribution of assets on dissolution or final liquidation

---
identifier: "/us/usc/t36/s154113"
source: "usc"
legal_status: "official_legal_evidence"
title: "36 USC § 154113 - Distribution of assets on dissolution or final liquidation"
title_number: 36
title_name: "PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS"
section_number: "154113"
section_name: "Distribution of assets on dissolution or final liquidation"
chapter_number: 1541
chapter_name: "NAVAL SEA CADET CORPS"
part_number: "B"
part_name: "Organizations"
positive_law: true
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1434.)"
---


# § 154113. Distribution of assets on dissolution or final liquidation

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

---

**Source Credit**: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1434.)

| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| --- | --- | --- |
| 154113 | 36:1055. | Sept. 10, 1962, Pub. L. 87–655, § 15, 76 Stat. 533. |

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 “as provided by” are substituted for “in accordance with the determination of” to eliminate unnecessary words. The words “and all Federal and State laws applicable thereto” are omitted as unnecessary.