The sale, lease, or exchange of all or substantially all the property and assets of a corporation, when made in the usual and regular course of the business of the corporation, 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 corporation, as shall be authorized by its board of directors. In this case, no authorization or consent of the shareholders shall be required.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 26 - Business Corporations Generally
Subchapter 9 - Mortgage, Sale, Etc., of Assets
§ 4-26-901. Corporate indebtedness — Mortgage of assets authorized
§ 4-26-902. Sale, lease, or exchange of assets in regular course of business
§ 4-26-903. Sale, lease, or exchange of assets other than in regular course of business
§ 4-26-904. Sale or exchange of assets — Rights of dissenting shareholders