Federal · Title 36 — Patriotic and National Observances, Ceremonies, and Organizations
36 U.S.C. § 40706: Distribution of assets on dissolution
Read the full statutory text
Firearms stored at Defense Distribution Depot, Anniston, Anniston, Alabama on the date of dissolution. M–16 rifles under control of the corporation. Trophies received from the National Board for the Promotion of Rifle Practice through the date of dissolution. is exempt from taxation under section 501(a) of the Internal Revenue Code of 1986 ( 26 U.S.C. 501(a) ) as an organization described in section 501(c)(3) of that Code ( 26 U.S.C. 501(c)(3) ); and performs functions similar to the functions described in section 40722 of this title . An asset distributed under this subsection may not be distributed to an individual. On dissolution of the corporation, any asset not distributed under subsection (a) or (b) of this section shall be sold and the proceeds shall be deposited in the Treasury.
Verify at the official source: Federal legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.