
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 36USC230313]

 
     TITLE 36--PATRIOTIC AND NATIONAL OBSERVANCES, CEREMONIES, AND 
                              ORGANIZATIONS
 
            Subtitle II--Patriotic and National Organizations
 
                          Part B--Organizations
 
 CHAPTER 2303--VETERANS OF WORLD WAR I OF THE UNITED STATES OF AMERICA, 
                              INCORPORATED
 
Sec. 230313. Termination of existence and distribution of assets

    (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.

(Pub. L. 105-225, Aug. 12, 1998, 112 Stat. 1485.)

                                          Historical and Revision Notes
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           Revised  Section                    Source (U.S. Code)              
 Source (Statutes at Large)
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230313................................  36:779.                          July 1
8, 1958, Pub. L. 85-530, Sec.
                                                                          19, 7
2 Stat. 375.
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---------------------------------

    In subsection (a), the words ``declare that the corporate existence 
will terminate on the occurrence of a specified event'' are substituted 
for ``declare the event upon which the corporate existence of the 
organization is to terminate'' for clarity. 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.
    In subsection (b)(1), the word ``duly'' is omitted as unnecessary. 
The word ``must'' is substituted for ``shall'' for clarity because the 
filing is only required if the national convention decides to exercise 
its discretionary authority under subsection (a).
    In subsection (b)(2)(B), the word ``relevant'' is substituted for 
``said'' for clarity.
    In subsection (b)(3), the word ``due'' is omitted as unnecessary. 
The word ``order'' is substituted for ``decree'' for consistency in the 
revised title and with other titles of the United States Code. The word 
``vesting'' is substituted for ``which shall be effective to vest'' to 
eliminate unnecessary words.
