§ 3.02. General powers
Unless its articles of incorporation provide otherwise, every corporation has perpetual
duration and succession in its corporate name and has the same powers as an individual
to do all things necessary or convenient to carry out its affairs, including without
limitation, power:
(1) to sue and be sued, complain, and defend in its corporate name;
(2) to have a corporate seal, which may be altered at will, and to use it, or a facsimile
of it, by impressing or affixing it or in any other manner reproducing it;
(3) to make and amend bylaws not inconsistent with its articles of incorporation or with
the laws of this State, for regulating and managing the affairs of the corporation;
(4) to purchase, receive, lease, or otherwise acquire, and own, hold, improve, use, and
otherwise deal with, real or personal property, or any legal or equitable interest
in property, wherever located, in its own name and for its own benefit, or in a fiduciary
capacity;
(5) to sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all or
any part of any property in which it has a legal or equitable interest;
(6) to purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, sell,
mortgage, lend, pledge, or otherwise dispose of, and deal in and with, securities
or other interests in, or obligations of any entity;
(7) to make contracts and guarantees, incur liabilities, borrow money, issue notes, bonds,
and other obligations, and secure any of its obligations by covenants requiring the
consent of another person to an action to be taken by the corporation, or by mortgage
or pledge of any of its property, franchises, or income;
(8) to lend money, invest and reinvest its funds and other property, and receive and hold
real and personal property as security for repayment, except as limited by this chapter;
(9) to be a promoter, partner, member, associate, or manager of any partnership, joint
venture, trust, or other entity;
(10) to conduct its activities, locate offices, and exercise the powers granted by this
title within or outside State;
(11) to elect or appoint directors, officers, employees, and agents of the corporation,
define their duties, and fix their compensation;
(12) to pay or contribute to pensions and establish pension plans, pension trusts, and
other benefit and incentive plans for any or all of its current or former directors,
officers, employees, and agents;
(13) to make donations for the public welfare or for charitable, scientific, or educational
purposes and for other purposes, not inconsistent with law, that further the corporate
interest;
(14) to impose dues, assessments, and admission and transfer fees upon its members;
(15) to establish conditions for admission to membership, admit members, and issue memberships;
(16) to carry on a business in the furtherance of its purposes;
(17) to delegate to any other person the authority to act for or in the name of the corporation;
(18) to do all things necessary or convenient, not inconsistent with law, to further the
activities and affairs of the corporation. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)