Section 77-5-243 - Power to execute and deliver instruments to create security interest in corporation property

A corporation shall have the power to execute and deliver any of one or more mortgages, deeds of trust, financing statements, or other instruments to secure debt covering, or to create by other means a security interest in, any or all of the real or personal property assets, rights, privileges, licenses, franchises, and permits of the corporation or any interest therein, as well as the revenues therefrom, whether acquired or to be acquired wherever situated, for the purpose of securing the payment or performance of any one or more contracts, notes, bonds, or other obligations of the corporation.Codes, 1942, § 5478; Laws, 1936, ch. 184.Amended by Laws, 2016, ch. 387, HB 1139, 17, eff. 7/1/2016.