(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.

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Terms Used In 36 USC 230313

  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(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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