§ 1000
65 words·~1 min read·
/ca/corporations-code/1000A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any mortgage, deed of trust, pledge or other hypothecation of all or any part of the corporation’s property, real or personal, for the purpose of securing the payment or performance of any contract or obligation may be approved by the board. Unless the articles otherwise provide, no approval of shareholders (Section 153) or of the outstanding shares (Section 152) shall be necessary for such action.