Section 1201 – Sale of property.

16-6a-1201. Sale of property. (1) Unless the bylaws otherwise provide, a nonprofit corporation may, as authorized by the board of directors: (a) sell, lease, exchange, or otherwise dispose of all or substantially all of its property in the usual and regular course of business; or (b) mortgage, pledge, dedicate to the repayment of indebtedness, whether […]

Section 1202 – Sale of property other than in regular course of activities.

Effective 5/13/2014 16-6a-1202. Sale of property other than in regular course of activities. (1) (a) A nonprofit corporation may sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property, with or without its good will, other than in the usual and regular course of business on the terms and conditions and […]