Sale of assets in regular course of business and mortgage or pledge of assets.
R.I. Gen. Laws § 7-1.2-1101
in effect7-1.2-1101. Sale of assets in regular course of business and mortgage or pledge of assets.
The sale, lease, exchange, or other disposition of all, or substantially all, the
property and assets of a corporation in the usual and regular course of its business,
and the mortgage or pledge of any or all property and assets of a corporation, whether
or not in the usual and regular course of business, may be made upon terms and conditions
and for any consideration, which may consist in whole or in part of money or property,
real or personal, including shares of any other corporation, domestic or foreign,
as is authorized by its board of directors; and in any case no authorization or consent
of the shareholders is required.
P.L. 2004, ch. 216, § 2; P.L. 2004, ch. 274, § 2.
Source: State of Rhode Island General Assembly (rilegislature.gov)URL: https://webserver.rilegislature.gov/Statutes/TITLE7/7-1.2/7-11/7-1.2-1101.htmFetched: 10/20/2026