§ 7-51-105 — Powers of corporation

(1) Corporations formed under this article:

(a) Shall be bodies corporate and politic in fact and in name, by the name
stated in the affidavit, and by that name have succession for the period for which
they are organized;

(b) May sue and be sued in any court in this state;

(c) May have a common seal which they may alter or renew at pleasure by
filing an impression of the same in the office of the clerk and recorder of the county
in which any such corporation may be formed under this article;

(d) May own, possess, and enjoy so much real and personal property as is
necessary for the transaction of their business, whether acquired by purchase,
grant, devise, gift, or otherwise;

(e) May from time to time sell and dispose of real and personal property or
any part thereof when not required for the use of the corporation; and

(f) May borrow money and pledge their franchises and property, both real
and personal, to secure the payment thereof and may exercise all the powers
necessary and requisite to carry into effect the object for which they may be
formed under this article.

Legislative History

Source: L. 1879: p. 35, � 5. G.S. � 388. R.S. 08: � 1038. C.L. � 2404. CSA: C. 41, � 201. CRS 53: � 31-22-5. C.R.S. 1963: � 31-21-5.