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This entry was published on 2014-09-22
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Certain sales, transfers, security interests and judgments void
Business Corporation (BSC) CHAPTER 4, ARTICLE 11
§ 1114. Certain sales, transfers, security interests and judgments void.

A sale, mortgage, conveyance or other transfer of, or the creation of
a security interest in, any property of a corporation made, without
prior approval of the court, after service upon the corporation of a
summons in an action, or of an order to show cause in a special
proceeding, under this article in payment of or as security for an
existing or prior debt or for any other or for no consideration, or a
judgment thereafter rendered against the corporation by confession or
upon the acceptance of any offer, shall be void as against such persons
and to such extent, if any, as the court shall determine.