Idaho § 30-29-1201 DISPOSITION OF ASSETS NOT REQUIRING SHAREHOLDER APPROVAL

Idaho Statutes

§ 30-29-1201 — DISPOSITION OF ASSETS NOT REQUIRING SHAREHOLDER APPROVAL

Idaho·Title 30 CORPORATIONS·Part 12 DISPOSITION OF ASSETS·Ch. 29 GENERAL BUSINESS CORPORATIONS

No approval of the shareholders is required, unless the articles of incorporation otherwise provide:

(a)To sell, lease, exchange, or otherwise dispose of any or all of the corporation’s assets in the usual and regular course of business;

(b)To mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of the corporation’s assets, regardless of whether in the usual and regular course of business; or

(c)To transfer any or all of the corporation’s assets to one (1) or more domestic or foreign corporations or other entities all of the shares or interests of which are owned by the corporation; or

(d)To distribute assets pro rata to the holders of one (1) or more classes or series of the corporation’s shares.

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No approval of the shareholders is required, unless the articles of incorporation otherwise provide:
(a) To sell, lease, exchange, or otherwise dispose of any or all of the corporation’s assets in the usual and regular course of business;
(b) To mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of the corporation’s assets, regardless of whether in the usual and regular course of business; or
(c) To transfer any or all of the corporation’s assets to one (1) or more domestic or foreign corporations or other entities all of the shares or interests of which are owned by the corporation; or
(d) To distribute assets pro rata to the holders of one (1) or more classes or series of the corporation’s shares.

Idaho § 30-29-1201 (DISPOSITION OF ASSETS NOT REQUIRING SHAREHOLDER APPROVAL) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.