Section 509. Purchase, sale, mortgage and lease of real property  


Latest version.
  • No  purchase  of  real  property shall be made by a corporation and no
      corporation  shall  sell,  mortgage  or  lease  real  property,   unless
      authorized  by the vote of two-thirds of the entire board, provided that
      if there are twenty-one or more directors, the vote of a majority of the
      entire board shall be sufficient.