{"data":{"id":"us-ky/krs-271b.12-010","jurisdiction":"us-ky","citation":"KRS 271B.12-010","heading":"Sale of assets in regular course of business and mortgage of assets.","body":"(1) A corporation may, on the terms and conditions and for the consideration\ndetermined by the board of directors:\n(a) Sell, lease, exchange, or otherwise dispose of all, or substantially all, of its\nproperty in the usual and regular course of business;\n(b) Mortgage, pledge, dedicate to the repayment of indebtedness (whether with or\nwithout recourse), or otherwise encumber any or all of its property whether or\nnot in the usual and regular course of business; or\n(c) Transfer any or all of its property to an entity of which all the shares or all of\nthe limited liability company interests or other equity interests are owned by\nthe corporation.\n(2) Unless the articles of incorporation require it, approval by the shareholders of a\ntransaction described in subsection (1) of this section shall not be required.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=39659","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:19Z","sha256":"ff5378ae3c31eb43be280c415dcb1e651a34056b18b253d576a77813788e22c8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.11-080","next":"us-ky/krs-271b.12-020"},"notice":"GroundRules: Original legal text. Not legal advice."}