The sale, lease, or exchange of all or substantially all of the property and assets of an association, when made in the usual and regular course of the business of the association, may be made upon such terms and conditions and for such considerations, which may consist in whole or in part of money or real or personal property, including shares of any other domestic or foreign association, as shall be authorized by its board of directors, and no authorization or consent of the members shall be required.
Structure Arkansas Code
Subtitle 1 - General Provisions
Chapter 2 - Agricultural Cooperative Associations
Subchapter 3 - Merger and Consolidation
§ 2-2-302. Provisions supplemental
§ 2-2-303. Procedure for merger
§ 2-2-304. Procedure for consolidation
§ 2-2-305. Approval by members — Abandonment
§ 2-2-306. Articles of merger or consolidation
§ 2-2-307. Effect of merger or consolidation
§ 2-2-308. Merger or consolidation of domestic and foreign associations
§ 2-2-309. Continuance of association existence for title transfers
§ 2-2-310. No approval for financial obligations — Exception
§ 2-2-311. Regular disposition of property
§ 2-2-312. Disposition of property other than in regular course of business