Kansas Statutes 17-6802. Mortgage or pledge of assets
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Terms Used In Kansas Statutes 17-6802
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes personal and real property. See Kansas Statutes 77-201
The authorization or consent of stockholders to the mortgage or pledge of a corporation‘s property and assets shall not be necessary, except to the extent that the articles of incorporation otherwise provide.