§ 12.01. Sale of assets in regular course of business and mortgage of assets

§ 12.01. Sale of assets in regular course of business and mortgage of assets (a) A corporation may, on the terms and conditions and for the consideration determined by the board of directors: (1) sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property in the usual and regular course of […]

§ 12.02. Sale of assets other than in regular course of business

§ 12.02. Sale of assets other than in regular course of business (a) A sale, lease, exchange, or other disposition of assets, other than a disposition described in section 12.01 of this title, requires approval of the corporation’s shareholders if the disposition would leave the corporation without a significant continuing business activity. If a corporation […]