Montana § 35-2-616 Sale Of Assets In Regular Course Of Activities -- Mortgage Of Assets

Montana Statutes

§ 35-2-616 — Sale Of Assets In Regular Course Of Activities -- Mortgage Of Assets

Montana § 35-2-616

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 2NONPROFIT CORPORATIONS

Part 6Merger, Consolidation, and Sale of Assets

This text of Montana § 35-2-616 (Sale Of Assets In Regular Course Of Activities -- Mortgage Of Assets) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 35-2-616 (2026).

Text

35-2-616 . Sale of assets in regular course of activities -- mortgage of assets.

(1)A corporation may on the terms and conditions and for the consideration determined 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 its activities; or

(b)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) is not required.

(3)Unless the articles provide otherwise, approval of a transaction described in subsection (1)(a) is

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35-2-616 . Sale of assets in regular course of activities -- mortgage of assets. (1) A corporation may on the terms and conditions and for the consideration determined 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 its activities; or
(b) 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) is not required.
(3) Unless the articles provide otherwise, approval of a transaction described in subsection (1)(a) is required by a vote of a majority of the directors in office at the time the transaction is approved.