§ 27-66-20 — § 27-66-20. General powers and limitations.

§ 27-66-20. General powers and limitations.

For the purposes of exercising the specific powers granted in this chapter and effectuating the other purposes of this chapter, the foundation:

(1) May be sued and sue;

(2) May have a seal and alter it at will;

(3) May make, amend, and repeal rules relating to the conduct of the business of the foundation;

(4) May enter into contracts relating to the administration of the foundation;

(5) May rent, lease, buy, or sell property in its own name and may construct or repair buildings necessary to provide space for its operations;

(6) May hire personnel, consultants, and experts and set salaries; and

(7) May perform all other functions and exercise all other powers that are necessary, appropriate, or convenient to administer the foundation.

Legislative History

P.L. 1999, ch. 215, § 1; P.L. 1999, ch. 376, § 1.