GroundRules
Miss. Code Ann. § 79-11-329: Sale, lease, exchange, or other disposition of property in regular course of business; mortgaging or otherwise encumbering property.
Where this section sits in the code
- Title 79. Corporations, Associations, and Partnerships
- Chapter 11. Nonprofit, Nonshare Corporations and Religious Societies
- Mississippi Nonprofit Corporation Act
(1) A corporation may on the terms and conditions and for the consideration determined 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 its activities; or
(b) Mortgage, pledge, dedicate to the repayment of indebtedness (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) Unless the articles of incorporation require it, approval by the members of a transaction described in subsection (1) of this section is not required.
Collected 2026-10-27T05:54:23Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source