A corporation may sell,lease,or otherwise dispose of all or substantially all of its property in other than the usual and regular course of business.Such a sale or lease of assets requires:

Question

Quizplus · Accepted Answer

According to corporate law, a sale or lease of assets that is not in the usual and regular course of business requires the recommendation of the board of directors and an affirmative vote of the majority of the shares of the selling or leasing corporation that are entitled to vote, unless a greater vote is required by the corporation's bylaws or state law. The approval of the SEC is not required unless the sale or lease involves securities registration or is subject to a federal regulatory requirement. Therefore, the best choice is E, which correctly summarizes the required actions for such a transaction.

A Corporation May Sell,lease,or Otherwise Dispose of All or Substantially