2015 District of Columbia Code
Division V - Local Business Affairs.
Title 29 - Business Organizations.
Chapter 3 - Business Corporations.
Subchapter X - Disposition of Assets.
§ 29-310.01. Disposition of assets not requiring shareholder approval.
The approval of the shareholders of a corporation shall not be required, unless the articles of incorporation otherwise provide, to:
(1) Sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of business;
(2) 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;
(3) 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; or
(4) Distribute assets pro rata to the holders of one or more classes or series of the corporation's shares.
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