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Utah Code Title 16. Corporations § 16-6a-1201. Sale of property

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Unless the bylaws otherwise provide, a nonprofit corporation may, as authorized 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; or

(b) mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber all or substantially all of its property whether or not in the usual and regular course of business.

(2) Unless otherwise provided in the bylaws, approval of a transaction described in this section by the members is not required.

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Cite this article: FindLaw.com - Utah Code Title 16. Corporations § 16-6a-1201. Sale of property - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-16-corporations/ut-code-sect-16-6a-1201/

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