§ 17-16-1201 — Disposition of assets not requiring shareholder approval

(a) No approval of the shareholders of a corporation is
required unless the articles of incorporation otherwise provide:
(i) To sell, lease, exchange, or otherwise dispose of
any or all of the corporation's assets in the usual and regular
course of business;
(ii) To mortgage, pledge, dedicate to the repayment
of indebtedness, whether 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
(iii) To transfer any or all of the corporation's
assets to one (1) or more corporations or other entities all of
the shares or interests of which are owned by the corporation;
or
(iv) To distribute assets pro rata to the holders of
one (1) or more classes or series of the corporation's shares.
(b) Repealed by Laws 2009, Ch. 115, § 3.