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§ 31e-12-1201 — West Virginia Law | CourtGPT
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  5. Article 12 - Disposition of Assets§31e-12-1201. Disposition of Assets Not Requiring Member Approval/
  6. § 31e-12-1201
West Virginia Legal Code

§ 31e-12-1201

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No approval of the members of a corporation is required, unless the articles of incorporation otherwise provide:(1) To sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of business;(2) To mortgage, pledge, dedicate to the repayment of indebtedness with or without recourse, or otherwise encumber any or all of the corporation's assets, whether or not in the usual and regular course of business; or(3) To transfer any or all of the corporation's assets to one or more corporations or other entities all of the shares or interests of which are owned by the corporation.