South Carolina Statutes
§ 33-49-270 — Mortgage or pledge of assets.
A mortgage or pledge of or other security interest in all or any part of the assets of a cooperative, whether or not in the usual and regular course of its business, may be made by authority of the board of trustees of the cooperative without authorization of the members, unless the articles of incorporation or bylaws shall specifically so require.
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South Carolina § 33-49-270 (Mortgage or pledge of assets.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 12-1035.1; 1970 (56) 1967.
Nearby Sections
15
§ 33-49-10
Short title.§ 33-49-100
Fees.§ 33-49-1010
Dissolution before commencing business.§ 33-49-1020
Dissolution after commencing business.§ 33-49-1030
Action of board and members.§ 33-49-1040
Certificate of dissolution and affidavit.§ 33-49-1060
Notice of winding up.§ 33-49-1070
Power of board of trustees to wind up affairs.§ 33-49-1080
Articles of dissolution.§ 33-49-110
All papers shall be filed in quadruplicate.§ 33-49-1220
Articles of conversion.§ 33-49-1230
Approval at membership meeting.