S-31.1 - Business Corporations Act

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115. Unless otherwise provided in the by-laws or in a unanimous shareholder agreement, the board of directors of a corporation may, on behalf of the corporation,
(1)  borrow money;
(2)  issue, reissue, sell or hypothecate its debt obligations;
(3)  enter into a suretyship to secure performance of an obligation of any person; and
(4)  hypothecate all or any of its property, owned or subsequently acquired, to secure any obligation.
2009, c. 52, s. 115.