§ 7-6-5. General powers.
Each corporation has power to:
(1) Have perpetual succession by its corporate name unless a limited period of duration
is stated in its articles of incorporation;
(2) Sue and be sued, complain and defend, in its corporate name;
(3) Have a corporate seal that may be altered at pleasure, and to use that seal by causing
it, or a facsimile of it, to be impressed or affixed or in any other manner reproduced;
(4) Purchase, take, receive, lease, take by gift, devise, or bequest, or otherwise acquire,
own, hold, improve, use, and otherwise deal in and with real or personal property,
or any interest in real or personal property, wherever situated, and without restriction
as to amount;
(5) Sell, convey, mortgage, pledge, lease, exchange, transfer, and otherwise dispose of
all or any part of its property and assets;
(6) Lend money to and use its credit to assist its employees (other than employees who
are also directors) and otherwise assist its employees;
(7) Purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use,
employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and
deal in and with, shares or other interests in, or obligations of, other domestic
or foreign corporations, whether for profit or not for profit, associations, partnerships,
or individuals, or direct or indirect obligations of the United States, or of any
other government, state, territory, governmental district or municipality, or of any
instrumentality of those entities;
(8) Make contracts and guarantees and incur liabilities; borrow money at the rates of
interest that the corporation determines; issue its notes, bonds, and other obligations;
guarantee debts and secure any of its obligations by mortgage or pledge of all or
any of its property, franchises, and income;
(9) Lend money for its corporate purposes; invest and reinvest its funds; and take and
hold real and personal property as security for the payments of funds loaned or invested
in that manner;
(10) Conduct its affairs, carry on its operations, have offices, and exercise the powers
granted by this chapter within or without this state;
(11) Elect or appoint officers and agents of the corporation, who may be directors or members,
and define their duties and fix their compensation;
(12) Make and alter bylaws, not inconsistent with its articles of incorporation or with
the laws of this state, for the administration and regulation of the affairs of the
corporation;
(13) Unless otherwise provided in the articles of incorporation, make donations for the
public welfare or for charitable, scientific, or educational purposes;
(14) Pay pensions and establish pension plans or pension trusts for any or all of its directors,
officers, and employees;
(15) Have and exercise all powers necessary or convenient to effect any or all of the purposes
for which the corporation is organized.