September 29, 2020
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The Florida Statutes

The 2010 Florida Statutes(including Special Session A)

Chapter 607
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F.S. 607.1201
607.1201 Sale of assets in regular course of business and mortgage of assets.
(1) A corporation may, on the terms and conditions and for the consideration determined by the board of directors:
(a) Sell, lease, exchange, or otherwise dispose of all, or substantially all, of its property in the usual and regular course of business;
(b) Mortgage, pledge, dedicate to the repayment of indebtedness (whether with or without recourse), create a security interest in, or otherwise encumber any or all of its property whether or not in the usual and regular course of business; or
(c) Transfer any or all of its property to a corporation all the shares of which are owned by the corporation.
(2) Unless the articles of incorporation require it, approval by the shareholders of a transaction described in subsection (1) is not required.
History.s. 116, ch. 89-154.
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