A sale of substantially all of the assets of a corporation in the ordinary course of business of the corporation will not require shareholder approval.

Question

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According to most state laws and corporate bylaws, a sale of substantially all of the assets of a corporation in the ordinary course of business does not require shareholder approval. However, if the sale is outside the ordinary course of business or involves a sale of all or substantially all of the company's assets, shareholder approval may be required.

A Sale of Substantially All of the Assets of a Corporation