Nevada § 78.565 Sale, lease or exchange of assets: Authority; vote of stockholders

Nevada Statutes

§ 78.565 — Sale, lease or exchange of assets: Authority; vote of stockholders

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 78 Private· SALE OF ASSETS; DISSOLUTION AND WINDING UP

1. Unless otherwise provided in the articles of incorporation, every corporation may, by action taken at any meeting of its board of directors, sell, lease or exchange all of its property and assets, including its goodwill and its corporate franchises, upon such terms and conditions as its board of directors may approve, when and as authorized by the affirmative vote of stockholders holding stock in the corporation entitling them to exercise at least a majority of the voting power. 2. Unless otherwise provided in the articles of incorporation, a vote of stockholders is not necessary:

(a)For a transfer of assets by way of mortgage, or in trust or in pledge to secure indebtedness of the corporation; or

(b)To abandon the sale, lease or exchange of assets.

Free access — add to your briefcase to read the full text and ask questions with AI

1. Unless otherwise provided in the articles of incorporation, every corporation may, by action taken at any meeting of its board of directors, sell, lease or exchange all of its property and assets, including its goodwill and its corporate franchises, upon such terms and conditions as its board of directors may approve, when and as authorized by the affirmative vote of stockholders holding stock in the corporation entitling them to exercise at least a majority of the voting power.
2. Unless otherwise provided in the articles of incorporation, a vote of stockholders is not necessary:
(a) For a transfer of assets by way of mortgage, or in trust or in pledge to secure indebtedness of the corporation; or
(b) To abandon the sale, lease or exchange of assets.

Nevada § 78.565 (Sale, lease or exchange of assets: Authority; vote of stockholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.