36 USC 70914 – Distribution of assets on dissolution or final liquidation
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On dissolution or final liquidation of the FFA, any assets remaining after the discharge of all liabilities shall be used by the board of directors for the benefit of students of agricultural education or be transferred to a recognized educational foundation.
Terms Used In 36 USC 70914
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.