§ 27-66-20 - General powers and limitations.
SECTION 27-66-20
§ 27-66-20 General powers and limitations.– For the purposes of exercising the specific powers granted in this chapter andeffectuating the other purposes of this chapter, the foundation:
(1) May be sued and sue;
(2) May have a seal and alter it at will;
(3) May make, amend, and repeal rules relating to the conductof the business of the foundation;
(4) May enter into contracts relating to the administrationof the foundation;
(5) May rent, lease, buy or sell property in its own name andmay construct or repair buildings necessary to provide space for its operations;
(6) May hire personnel, consultants and experts and setsalaries; and
(7) May perform all other functions and exercise all otherpowers that are necessary, appropriate or convenient to administer thefoundation.