Requirements for Sale, Lease, Exchange, or Other Disposition of Assets

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Sec. 6. Any sale, lease, exchange, or other disposition of all or substantially all of the assets of a benefit corporation is not effective unless one (1) or more of the following apply:

(1) The transaction is in the usual and regular course of business.

(2) The transaction is approved by at least a minimum status vote.

As added by P.L.93-2015, SEC.3.


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