§ 35-12-5 — § 35-12-5. General powers.

Rhode Island § 35-12-5

• Jurisdiction: Rhode Island
• Title 35: Public Finance
• Ch. 35-12: University of Rhode Island Research Corporation

Text

§ 35-12-5. General powers.

The corporation shall have all the powers necessary and convenient to carry out and effectuate the purposes and provisions of this chapter, including, but not limited to, the power to:

(1) Sue and be sued, complain and defend, in its corporate name;

(2) Have a seal which may be altered at pleasure, and use the seal by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced;

(3) Purchase, take, receive, or otherwise acquire, own, hold, use, and otherwise deal in and with, intangible personal property, or any interest therein;

(4) Sell, convey, pledge, exchange, transfer, and otherwise dispose of all or any part of accounts for such consideration and upon such terms and conditions as the corporation shall determine;

(5) Make contracts and incur liabilities, and borrow money at such rates of interest as the corporation may determine;

(6) Make and execute all contracts, agreements, and instruments necessary or convenient in the exercise of the powers and functions of the corporation granted by this chapter;

(7) Invest and reinvest its funds;

(8) Conduct its activities, carry on its operations, and have offices and exercise the powers granted by this chapter;

(9) Make and alter by-laws, not inconsistent with this chapter, for the administration and regulation of the affairs of the corporation, and the by-laws may contain provisions indemnifying any person who is or was a director, officer, employee, or agent of the corporation, in the manner and to the extent provided in § 7-1.2-814; and

(10) Have and exercise all powers necessary or convenient to effect its purposes.

Legislative History

P.L. 1982, ch. 324, § 1; P.L. 2005, ch. 36, § 23; P.L. 2005, ch. 72, § 23.