16-7-6 - Powers of corporations sole.
16-7-6. Powers of corporations sole.
Upon making and filing articles of incorporation as herein provided the person subscribingthe same and his successor in office, by the name or title specified in the articles, shall thereafterbe deemed and is hereby created a body politic and a corporation sole, with perpetual succession,and shall have power:
(1) To acquire and possess, by donation, gift, bequest, devise or purchase, and to holdand maintain, property, real, personal and mixed; and to grant, sell, convey, rent or otherwisedispose of the same as may be necessary to carry on or promote the objects of the corporation.
(2) To borrow money and to give written obligations therefor, and to secure the paymentthereof by mortgage or other lien upon real or personal property, when necessary to promote suchobjects.
(3) To contract and be contracted with.
(4) To sue and be sued.
(5) To plead and be impleaded in all courts of justice.
(6) To have and use a common seal by which all deeds and acts of such corporation maybe authenticated.
No Change Since 1953