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36 U.S.C. § 230313 - U.S. Code - Unannotated Title 36. Patriotic and National Observances, Ceremonies, and Organizations § 230313. Termination of existence and distribution of assets

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Authority to make contingent provisions.--The national convention, by resolution, may declare that the corporate existence will terminate on the occurrence of a specified event and provide for the disposition of any property remaining after the discharge of all liabilities.

(b) Procedure for carrying out contingent provisions.--(1) An authenticated copy of the national convention's resolution must be filed in the office of the United States District Court for the District of Columbia.

(2) The court shall take jurisdiction when--

(A) the declared event has occurred; and

(B) a petition is filed with the court reciting the relevant facts.

(3) On proof of the facts, the court shall enter an order vesting title and ownership in accordance with the resolution of the national convention.

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Cite this article: FindLaw.com - 36 U.S.C. § 230313 - U.S. Code - Unannotated Title 36. Patriotic and National Observances, Ceremonies, and Organizations § 230313. Termination of existence and distribution of assets - last updated January 01, 2024 | https://codes.findlaw.com/us/title-36-patriotic-and-national-observances-ceremonies-and-organizations/36-usc-sect-230313/

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