Section 2-6-25 Powers of corporation generally. - Alabama Statutes

Section 2-6-25

Powers of corporation generally.

The corporation shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form:

(1) To have succession by its corporate name until dissolved as provided in this article;

(2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties;

(3) To make use of a corporate seal and to alter the same at pleasure;

(4) To acquire from the state and hold title to the coliseum and the land in connection therewith in the City of Montgomery as provided in this article, together with all rights incidental to its estate in such property;

(5) To improve the land so acquired and to complete the construction of and equip the coliseum and make all contracts necessary to that end;

(6) To sell and issue and do all things incidental to the sale and issuance of its interest-bearing revenue bonds to the extent and for the purpose set out in this article;

(7) To secure such bonds by pledge of the rentals from the leasing of its properties and to execute any instrument or instruments which its board of directors may deem necessary or desirable in connection with such pledge; and

(8) To contract, lease and make lease agreements as provided in this article respecting its properties.

(Acts 1951, No. 532, p. 934, §7.)