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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) Role of board. A corporation may, on the terms and conditions and for the consideration determined by the board, do any of the following:
(a) Sell, lease, exchange or otherwise dispose of all, or substantially all, of its property in the usual and regular course of its activities.
(b) Sell, lease, exchange or otherwise dispose of less than substantially all of its property whether or not in the usual and regular course of activities.
(c) 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.
(2) Role of members. Unless required by the articles of incorporation or bylaws, approval of the members or any other person of a transaction described in sub. (1) is not required.
Cite this article: FindLaw.com - Wisconsin Statutes Corporations (Ch. 180 to 188) § 181.1201. Sale of assets in regular course of activities and mortgage of assets - last updated January 01, 2025 | https://codes.findlaw.com/wi/corporations-ch-180-to-188/wi-st-181-1201/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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