☰ Revisor of Missouri

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 355

< > Effective - 01 Jul 1995, see footnote bottom

  355.651.  Sale, encumbrance of property. — 1.  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 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.

  2.  Unless the articles require it, approval of the members or any other person of a transaction described in subsection 1 of this section is not required.

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(L. 1994 H.B. 1095)

Effective 7-01-95


---- end of effective  01 Jul 1995 ----

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