Statute · California Corporations Code
Cal. Corp. Code § 12520 — Sales of Assets
Cal. Corp. Code § 12520
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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 or bylaws otherwise provide, no…
Citator
Cal. Corp. Code § 12520 — Sales of Assets is in force in the current edition of the Code, and nothing recorded condemns it.
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 or bylaws otherwise provide, no approval of the members (Section 12224) shall be necessary for such action.