Montana § 35-14-1201 Disposition Of Assets Not Requiring Shareholder Approval

Montana Statutes

§ 35-14-1201 — Disposition Of Assets Not Requiring Shareholder Approval

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 14 MONTANA BUSINESS CORPORATION ACT·Part 12 Disposition of Assets

35-14-1201 . Disposition of assets not requiring shareholder approval. No approval of the shareholders is required, unless the articles of incorporation provide otherwise:

(1)to sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of business;

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

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

(4)to distribute assets pro rata to the holders of one or more classes

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35-14-1201 . Disposition of assets not requiring shareholder approval. No approval of the shareholders is required, unless the articles of incorporation provide otherwise:
(1) to sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of business;
(2) to mortgage, pledge, dedicate, with or without recourse, to the repayment of indebtedness, or otherwise encumber any or all of the corporation's assets, regardless of whether in the usual and regular course of business;
(3) to transfer any or all of the corporation's assets to one or more domestic or foreign corporations or other entities all of the shares or interests of which are owned by the corporation; or
(4) to distribute assets pro rata to the holders of one or more classes or series of the corporation's shares.

Montana § 35-14-1201 (Disposition Of Assets Not Requiring Shareholder Approval) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.