14A:10-10. Sale or other disposition of assets in regular course of business and mortgage or pledge of assets
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/nj/title-14a/chapter-10/14a-10-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The sale, lease, exchange, or other disposition of all, or substantially all, the assets of a corporation in the usual and regular course of its business as conducted by such corporation, and the mortgage or pledge of any or all the assets of a corporation whether or not in the usual and regular course of business as conducted by such corporation, may be made upon such terms and conditions and for such consideration, which may consist in whole or in part of money or property, real or personal, including shares, bonds or other securities of any other corporation, domestic or foreign, as shall be authorized by its board.
In any such case, unless otherwise provided in the certificate of incorporation, no approval of the shareholders shall be required.