§ 35-12-5 - General powers.
SECTION 35-12-5
§ 35-12-5 General powers. – The corporation shall have all the powers necessary and convenient to carry outand effectuate the purposes and provisions of this chapter, including, but notlimited to, the power to:
(1) Sue and be sued, complain and defend, in its corporatename;
(2) Have a seal which may be altered at pleasure, and use theseal by causing it, or a facsimile thereof, to be impressed or affixed or inany other manner reproduced;
(3) Purchase, take, receive, or otherwise acquire, own, hold,use, and otherwise deal in and with, intangible personal property, or anyinterest therein;
(4) Sell, convey, pledge, exchange, transfer, and otherwisedispose of all or any part of accounts for such consideration and upon suchterms and conditions as the corporation shall determine;
(5) Make contracts and incur liabilities, and borrow money atsuch rates of interest as the corporation may determine;
(6) Make and execute all contracts, agreements, andinstruments necessary or convenient in the exercise of the powers and functionsof the corporation granted by this chapter;
(7) Invest and reinvest its funds;
(8) Conduct its activities, carry on its operations, and haveoffices and exercise the powers granted by this chapter;
(9) Make and alter by-laws, not inconsistent with thischapter, for the administration and regulation of the affairs of thecorporation, and the by-laws may contain provisions indemnifying any person whois or was a director, officer, employee, or agent of the corporation, in themanner and to the extent provided in § 7-1.2-814; and
(10) Have and exercise all powers necessary or convenient toeffect its purposes.