§ 16-32.1-3 - Additional powers. - Rhode Island Statutes

SECTION 16-32.1-3

   § 16-32.1-3  Additional powers. – The research foundation shall have, in addition to the powers enumerated in§ 16-32.1-2, all the powers necessary and convenient to carry out andeffectuate the purposes and provisions of this chapter including, but notlimited to, the power to:

   (1) Sue and be sued, complain and defend, in its corporatename;

   (2) Have a corporate seal that may be altered from time totime at its pleasure, and use the seal by causing it, or a facsimile thereof,to be impressed or affixed or in any other manner reproduced;

   (3) Sell, convey, pledge, lease, exchange, transfer andotherwise dispose of all or any part of its property, assets and accounts forsuch consideration and upon such terms and conditions as the researchfoundation shall determine;

   (4) Make contracts, liabilities and borrow money as theresearch foundation may determine;

   (5) Make and execute all contracts and agreements andinstruments necessary or convenient in the exercise of the powers and functionsof the research foundation granted by this chapter;

   (6) Receive, take, hold, invest, manage, administer, controland generally care for any intellectual or personal property, which it may begiven, devised or otherwise conveyed or made available to the researchfoundation.