§ 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.