Colorado § 7-132-101 Sale of property

Colorado Statutes

§ 7-132-101 — Sale of property

Colorado·Title 07 Corporations·Art. 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;

(b)Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber all or substantially all of its property whether or not in the usual and regular course of business.

(2)Unless otherwise provided in the bylaws, approval by the members of a transaction described in this section is not required.

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(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;

(b) Mortgage, pledge, dedicate to the repayment of indebtedness, whether
with or without recourse, or otherwise encumber all or substantially all of its
property whether or not in the usual and regular course of business.

(2) Unless otherwise provided in the bylaws, approval by the members of a
transaction described in this section is not required.

Colorado § 7-132-101 (Sale of property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.