Nonprofit Mutual Benefit Corp. Law › CHAPTER 9. Sales of Assets [7910 - 7914]
California Corporations Code § 7910. Approval of Mortgages and Security Interests
(Added by Stats. 1978, Ch. 567.)
Text current as of August 17, 2026, per California Legislative Information.
Text current as of August 17, 2026, per California Legislative Information.
Any mortgage, deed of trust, pledge or other hypothecation of all or any part of the corporation’s property, real or personal, for the purpose of securing the payment or performance of any contract or obligation may be approved by the board. Unless the articles or bylaws otherwise provide, no approval of the members (Section 5034) shall be necessary for such action.
The text of the Nonprofit Mutual Benefit Corporation Law is provided for reference and convenience only, from the California Legislative Information website (leginfo.legislature.ca.gov). It is not legal advice, and the official version of California statutes is published by the state. Statutes may have been amended after the “current as of” date shown above. Consult counsel regarding the application of any statute to your association.