§ 22712 - Distribution of assets on dissolution or final liquidation

CHAPTER 227— AMVETS (AMERICAN VETERANS)

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 disabled veterans of World War II, the Korean conflict, and the Vietnam era.

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 2271236:67h.July 23, 1947, ch. 298, § 9, 61 Stat. 407; Aug. 15, 1977, Pub. L. 95–98, § 1(b)(3), 91 Stat. 830; June 13, 1991, Pub. L. 102–54, § 13(n)(1), 105 Stat. 278.

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.