36 USC § 70512 - Deposit of assets on dissolution or final liquidation

---
identifier: "/us/usc/t36/s70512"
source: "usc"
legal_status: "official_legal_evidence"
title: "36 USC § 70512 - Deposit of assets on dissolution or final liquidation"
title_number: 36
title_name: "PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND ORGANIZATIONS"
section_number: "70512"
section_name: "Deposit of assets on dissolution or final liquidation"
chapter_number: 705
chapter_name: "THE FOUNDATION OF THE FEDERAL BAR ASSOCIATION"
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. 1354; Pub. L. 119–57, § 8, Dec. 12, 2025, 139 Stat. 712.)"
---


# § 70512. Deposit of assets on dissolution or final liquidation

On dissolution or final liquidation of the corporation, any assets of the corporation remaining after the discharge of all liabilities shall be distributed—

**(a)** as provided by the board of directors; and

**(b)** in compliance with the charter and bylaws.

---

**Source Credit**: (Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1354; Pub. L. 119–57, § 8, Dec. 12, 2025, 139 Stat. 712.)

| 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— 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.”