Sec. 1. The approval of the shareholders of a corporation is not required unless the articles of incorporation require the approval of the shareholders to: (1) sell, lease, exchange, or otherwise dispose of all, or substantially all, of the corporation’s property in the usual and regular course of business; (2) mortgage, pledge, dedicate to the […]
Sec. 1. The approval of the shareholders of a corporation is not required unless the articles of incorporation require the approval of the shareholders to: (1) sell, lease, exchange, or otherwise dispose of all, or substantially all, of the corporation’s property in the usual and regular course of business; (2) mortgage, pledge, dedicate to the […]
Sec. 2. (a) A sale, lease, exchange, or other disposition of assets, other than a disposition described in section 1 of this chapter, requires approval of the corporation’s shareholders if the disposition would leave the corporation without a significant continuing business activity. If a corporation retains a business activity that represented at least twenty-five percent […]
Sec. 2. (a) A sale, lease, exchange, or other disposition of assets, other than a disposition described in section 1 of this chapter, requires approval of the corporation’s shareholders if the disposition would leave the corporation without a significant continuing business activity. If a corporation retains a business activity that represented at least twenty-five percent […]
