West Virginia § 31E-12-1201 Disposition of assets not requiring member approval

West Virginia Statutes

§ 31E-12-1201 — Disposition of assets not requiring member approval

West Virginia § 31E-12-1201

Ch. 31EWEST VIRGINIA NONPROFIT CORPORATION ACT

Art. 12DISPOSITION OF ASSETS

This text of West Virginia § 31E-12-1201 (Disposition of assets not requiring member approval) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 31E-12-1201 (2026).

Text

No approval of the members of a corporation is required, unless the articles of incorporation otherwise provide:

(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 to the repayment of indebtedness with or without recourse, or otherwise encumber any or all of the corporation's assets, whether or not in the usual and regular course of business; or

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

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No approval of the members of a corporation is required, unless the articles of incorporation otherwise provide:

(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 to the repayment of indebtedness with or without recourse, or otherwise encumber any or all of the corporation's assets, whether or not in the usual and regular course of business; or

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