Title 14, Chapter 3, Section 1201
( 14-3-1201)
Unless otherwise provided by this chapter, the articles, or bylaws,
a corporation may on the terms and conditions, for the consideration
determined by the board of directors, and without the approval of
the members or any other person: (1) Sell, lease, exchange, or otherwise dispose of all, or
substantially all, of its property in the usual and regular course
of its activities; or (2) Mortgage, pledge, dedicate to the repayment of indebtedness
(whether with or without recourse), or otherwise encumber any or
all of its property whether or not in the usual and regular course
of its activities. |