Collapse to view only § 140511. Distribution of assets on dissolution or final liquidation
- § 140501. Organization
- § 140502. Principles and purposes
- § 140503. Membership
- § 140504. Governing body
- § 140505. Powers
- § 140506. Restrictions
- § 140507. Principal office
- § 140508. Records and inspection
- § 140509. Liability for acts of officers and agents
- § 140510. Service of process
- § 140511. Distribution of assets on dissolution or final liquidation
The principal office of the corporation shall be in the District of Columbia or another place decided by the national executive board. However, the activities of the corporation are not confined to the place where the principal office is located but may be conducted throughout the States, territories, and possessions of the United States.
The corporation is liable for the acts of its officers and agents acting within the scope of their authority.
The corporation shall have a designated agent in the District of Columbia to receive service of process for the corporation. Notice to or service on the agent, or mailed to the business address of the agent, is notice to or service on the corporation.
On dissolution or final liquidation of the corporation, any assets remaining after the discharge of all liabilities shall be distributed as provided by the board of directors, but in compliance with the constitution and bylaws of the corporation.