§ 17-19-1201 — Sale of assets in regular course of activities and mortgage of assets

(a) A corporation may on the terms and conditions and for
the consideration determined by the board of directors:
(i) Sell, lease, exchange or otherwise dispose of
all, or substantially all, of its property in the usual and
regular course of its activities; or
(ii) 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.
(b) Unless the articles require it, approval of the
members or any other person of a transaction described in
subsection (a) of this section is not required.