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California Corporations Code

§ 1000

CORP § 1000Div. 1 · Title 1 · Ch. 10

Statute text

View on leginfo.ca.gov
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.

Legislative history

Added by Stats. 1975, Ch. 682.

Source: California Corporations Code § 1000 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.