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2020 Nebraska Revised Statutes
Chapter 21 - Corporations and Other Companies
21-19,125 Sale of assets in regular course of activities and mortgage of assets.
Universal Citation: NE Code § 21-19,125 (2020)
21-19,125. 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:
(1) Sell, lease, exchange, or otherwise dispose of all or substantially all of its property in the usual and regular course of its activities; or
(2) 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.
Source
- Laws 1996, LB 681, ยง 125.
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