N.Y. Business Corporation Law 911 – Mortgage or pledge of, or security interest in, corporate property
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§ 911. Mortgage or pledge of, or security interest in, corporate
Terms Used In N.Y. Business Corporation Law 911
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
property.
The board may authorize any mortgage or pledge of, or the creation of a security interest in, all or any part of the corporate property, or any interest therein, wherever situated. Unless the certificate of incorporation provides otherwise, no vote or consent of shareholders shall be required to approve such action by the board.