16-6a-1201 - Sale of property. - Utah Statutes

16-6a-1201. Sale of property.
(1) Unless the bylaws otherwise provide, a nonprofit corporation may, as authorized bythe board of directors:
(a) sell, lease, exchange, or otherwise dispose of all or substantially all of its property inthe usual and regular course of business; or
(b) mortgage, pledge, dedicate to the repayment of indebtedness, whether with or withoutrecourse, or otherwise encumber all or substantially all of its property whether or not in the usualand regular course of business.
(2) Unless otherwise provided in the bylaws, approval of a transaction described in thissection by the members is not required.

Enacted by Chapter 300, 2000 General Session