371.130. Powers of corporation. - Missouri Statutes

Powers of corporation.

371.130. Each corporation organized under this chapter shallhave power

(1) To sue and be sued, complain and defend, in itscorporate name;

(2) To have perpetual succession, unless a limited period ofduration is stated in its articles of incorporation;

(3) To adopt a corporate seal and to use it, or a facsimilethereof, as required by law;

(4) To borrow money and otherwise incur indebtedness for anyof the purposes of the corporation; to issue its bonds,debentures, notes or other evidences of indebtedness, whethersecured or unsecured, therefor; and to secure the same bymortgage, pledge, deed of trust or other lien on its property,franchises, rights and privileges of every kind and nature or anypart thereof;

(5) To lend money to, and to guarantee, endorse, or act assurety on the bonds, notes, contracts or other obligations of, orotherwise assist financially any person, firm, corporation orassociation, and to establish and regulate the terms andconditions with respect to any such loans or financial assistanceand the charges for interest and service connected therewith;

(6) To purchase, receive, hold, lease, or otherwise acquire,and to sell, convey, mortgage, lease, pledge, or otherwisedispose of, upon such terms and conditions as the board ofdirectors may deem advisable, real and personal property,together with such rights and privileges as may be incidental andappurtenant thereto and the use thereof, including, but notrestricted to, any real or personal property acquired by thecorporation from time to time in the satisfaction of debts orenforcement of obligations;

(7) To acquire the goodwill, business, rights, real andpersonal property and other assets, or any part thereof, of suchpersons, firms, corporations, joint stock companies, associationsor trusts as may be in furtherance of the corporate purposesprovided herein, and to assume, undertake, guarantee or pay theobligations, debts and liabilities of any such person, firm,corporation, joint stock company, association or trust; toacquire improved or unimproved real estate for the purpose ofconstructing industrial plants or other business establishmentsthereon or for the purpose of disposing of such real estate toothers for the construction of industrial plants or otherbusiness establishments, and, in furtherance of the corporatepurposes provided herein, to acquire, construct or reconstruct,alter, repair, maintain, operate, sell, lease or otherwisedispose of industrial plants or business establishments;

(8) To acquire, subscribe for, own, hold, sell, assign,transfer, mortgage, pledge or otherwise dispose of the stock,shares, bonds, debentures, notes or other securities andevidences of interest in, or indebtedness of, any person, firm,corporation, joint stock company, association or trust, and,while the owner or holder thereof, to exercise all the rights,powers and privileges of ownership, including the right to votethereon;

(9) To cooperate with and avail itself of the facilities ofthe division of commerce and industrial development and similargovernmental agencies; and to cooperate with and assist, andotherwise encourage, local organizations in the severalcommunities of the state, the purpose of which shall be thepromotion, assistance and development of the business prosperityand economic welfare of such communities and of this state;

(10) To make any and all contracts necessary or convenientfor the exercise of the powers granted by this chapter;

(11) To elect or appoint officers, agents and employees ofthe corporation and to define their duties and fix theircompensation;

(12) To conduct its business within or without the state;

(13) To accept gifts or grants of money, service orproperty, real or personal;

(14) To do and perform any and all acts and things and tohave and exercise any and all powers as may be necessary orappropriate to effect the purpose for which the corporation isorganized.

(L. 1961 p. 157 § 11)