56-495 - Powers granted corporation.
§ 56-495. Powers granted corporation.
Each corporation formed under this chapter shall have power to do any and allacts or things necessary or incidental for carrying out the purpose for whichit was formed, including, but not limited to:
1. To furnish or provide telephone service or any of the facilities necessarytherefor in connection with the furnishing or providing of such service withothers both within and without this Commonwealth and to provide such servicesor facilities as may be incidental or related to providing telephone service.
2. To sue and be sued.
3. To have a seal and alter the same at pleasure.
4. To acquire, hold and dispose of property, real and personal, tangible andintangible, or interests therein and to pay therefor in cash or property oron credit, and to secure and procure payment of all or any part of thepurchase price thereof on such terms and conditions as the board shalldetermine.
5. To acquire, own and dispose of shares or interests in other entitiesengaged in communications businesses.
6. To render service and to acquire, own, operate, maintain and improve asystem or systems.
7. To accept gifts or grants of money, or property, real or personal, fromany person, municipality or federal agency and to accept voluntary anduncompensated services.
8. To sell, lease, mortgage or otherwise encumber or dispose of all or anypart of its property, as hereinafter provided.
9. To contract debts, borrow money and to issue or assume the payment ofbonds, and other obligations.
10. To fix, maintain and collect reasonable fees, rents, tolls and othercharges for services rendered.
11. To exercise all the powers set forth in § 56-49, including the power ofeminent domain as prescribed for other public service corporations by generallaw.
12. To issue nonassessable nonvoting common and preferred capital stock andpay annually noncumulative dividends thereon not exceeding four percent andno cooperative operating hereunder shall pay annually more than four percentinterest on membership capital.
13. To perform any and all of the foregoing acts and to do any and all of theforegoing things under, through or by means of its own officers, agents andemployees, or by contracts with any person, federal agency or municipality.
(1950, p. 592; 1956, c. 434; 1989, c. 185; 2001, c. 386.)