§ 10-30-04 — Powers of investment corporations

North Dakota § 10-30-04

• Jurisdiction: North Dakota
• Title 10: Corporations
• Ch. 10-30: Development Corporations

Text

In furtherance of the purposes for which such corporation is organized, and in addition to
the powers conferred by the general laws relating to business corporations, any such
corporation shall, subject to the restrictions and limitations herein contained, have the power to:
1. Borrow money and otherwise incur indebtedness for any of the purposes of the
corporation; to issue its bonds, debentures, notes, or other evidences of indebtedness,
whether secured or unsecured, therefor and to secure the same by mortgage, pledge,
deed of trust, or other lien on its property, franchises, rights, and privileges of every
kind and nature or any part thereof.
2. Lend money to, and to guarantee, endorse, or act as surety on the bonds, notes,
contracts, or other obligations of, or otherwise assist financially, any person, firm,
corporation, limited liability company, or association, and to establish and regulate the

terms and conditions with respect to any such loans or financial assistance and the
charges for interest and service connected therewith.
3. Purchase, receive, hold, lease, or otherwise acquire, and to sell, convey, mortgage,
lease, pledge, or otherwise dispose of, upon such terms and conditions as the board
of directors may deem advisable, real and personal property, together with such rights
and privileges as may be incidental and appurtenant thereto and the use thereof,
including any real or personal property acquired by the corporation from time to time in
the satisfaction of debts or enforcement of obligations.
4. Acquire, by purchase or otherwise, the goodwill, business, rights, real and personal
property, and other assets, or any part thereof, of such persons, firms, corporations,
limited liability companies, joint-stock companies, associations, or trusts as may be in
furtherance of the corporate purposes provided herein, and to assume, undertake,
guarantee, or pay the obligations, debts, and liabilities of any such person, firm,
corporation, limited liability company, joint-stock company, association, or trust; to
acquire improved or unimproved real estate for the purpose of constructing industrial
plants or other business establishments thereon or for the purpose of disposing of
such real estate to others for the construction of industrial plants or other business
establishments and, in furtherance of the corporate purposes provided herein, to
acquire, construct, or reconstruct, alter, repair, maintain, operate, sell, lease, or
otherwise dispose of industrial plants or business establishments.
5. Acquire, subscribe for, own, hold, sell, assign, transfer, mortgage, pledge, or otherwise
dispose of the stock, shares, membership interests, bonds, debentures, notes, or other
securities and evidences of interest in, or indebtedness of, any person, firm,
corporation, limited liability company, joint-stock company, association, or trust, and,
while the owner or holder thereof, to exercise all the rights, powers, and privileges of
ownership, including the right to vote thereon.
6. Cooperate with and avail itself of the facilities of the department of commerce division
of economic development and finance and any other similar governmental agencies;
and to cooperate with and assist, and otherwise encourage, local organizations in the
various communities of the state the purpose of which are the promotion, assistance,
and development of the business prosperity and economic welfare of such
communities and of this state.