2011 California Code
Corporations Code
TITLE 1. CORPORATIONS [100 - 14551]
CHAPTER 10. Sales of Assets
Section 1000
Any mortgage, deed of trust, pledge or other hypothecation of all or any part of the corporation s property, real or personal, for the purpose of securing the payment or performance of any contract or obligation may be approved by the board. Unless the articles otherwise provide, no approval of shareholders (Section 153) or of the outstanding shares (Section 152) shall be necessary for such action.
(Added by Stats. 1975, Ch. 682.)
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