As enactedVersion · As enacted
12. Property remaining on dissolution
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If upon the dissolution of the Corporation there remains after the satisfaction of all its debts and liabilites any property whatsoever, such property shall not be distributed among the members of the Corporation, but shall be given or transferred to some other Institution or Institutions having objects similar to those of the Corporation, and which is, or are, by its or their rules prohibited from distributing any income or property among its members.