§ 12:1-302 — General powers

Louisiana § 12:1-302

• Jurisdiction: Louisiana
• Title 12: Conservation of Cultural Resources

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§1-302. General powers
Unless its articles of incorporation provide otherwise, every corporation has perpetual
duration and has the power to do all things necessary or convenient to carry out its business
and affairs, including without limitation power to do any of the following:
(1) Sue and be sued, complain and defend in its corporate name.
(2) Have a corporate seal, which may be altered at will, and to use it, or a facsimile
of it, by impressing or affixing it or in any other manner reproducing it.
(3) Make and amend bylaws, not inconsistent with its articles of incorporation or
with the laws of this state, for managing the business and regulating the affairs of the
corporation.
(4) Purchase, receive, lease, or otherwise acquire and own, hold, improve, use, and
otherwise deal with real or personal property, or any interest in property, wherever located.
(5) Sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all or
any part of its property.
(6) Purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, sell,
mortgage, lend, pledge, or otherwise dispose of, and deal in and with shares or other interests
in, or obligations of, any other entity.
(7) Make contracts and guarantees, incur liabilities, borrow money, issue its notes,
bonds, and other obligations, which may be convertible into or include the option to purchase
other securities of the corporation, and secure any obligation by mortgage, pledge, or security
interests of any kind in any of its property, franchises, or income.
(8) Lend money, invest and reinvest its funds, and receive and hold real and personal
property as security for repayment.
(9) Be a promoter, partner, member, associate, or manager of any limited liability
company, partnership, joint venture, trust, or other entity.
(10) Conduct its business, locate offices, and exercise the powers granted by this
Chapter within or without this state.
(11) Elect directors and appoint officers, employees, and agents of the corporation,
define their duties, fix their compensation, and lend them money and credit.
(12) Pay pensions and establish pension plans, pension trusts, profit sharing plans,
share bonus plans, share option plans, and benefit or incentive plans for any or all of the
current or former directors, officers, employees, and agents of the corporation and its
affiliated entities, and the dependents and families of those individuals.
(13) Make donations for the public welfare or for charitable, scientific, or
educational purposes.
(14) Transact any lawful business that will aid governmental policy.
(15) Make payments or donations, or do any other act, not inconsistent with law, that
furthers the business and affairs of the corporation.

Legislative History

Acts 2014, No. 328, §1, eff. Jan. 1, 2015; Acts 2016, No. 442, §1.