West Virginia Code § 31D-12-1201

Disposition of assets not requiring shareholder approval
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No approval of the shareholders of a corporation is required, unless the articles of
incorporation otherwise provide:
(1) To sell, lease, exchange or otherwise dispose of any or all of the corporation's assets in
the usual and regular course of business;
(2) To mortgage, pledge, dedicate to the repayment of indebtedness with or without
recourse, or otherwise encumber any or all of the corporation's assets, whether or not in the
usual and regular course of business; u
(3) To transfer any or all of the corporation's assets to one or more corporations or other
entities all of the shares or interests of which are owned by the corporation; or
(4) To distribute assets pro rata to the holders of one or more classes or series of the
corporation's shares. l

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