§ 42-105-4 - General powers. - Rhode Island Statutes

SECTION 42-105-4

   § 42-105-4  General powers. – Except to the extent inconsistent with any specific provision of this chapter,the corporation shall have power:

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

   (2) To have a seal, which may be altered at pleasure and touse the seal by causing it, or a facsimile thereof, to be impressed or affixedor in any other manner reproduced;

   (3) To purchase, take, receive, lease, or otherwise acquire,own, hold, improve, use, and otherwise deal in and with, personal property, orany interest therein, wherever situated;

   (4) To sell, convey, pledge, lease, exchange, transfer, andotherwise dispose of all or any part of its property and assets for anyconsideration and upon any terms and conditions as that corporation shalldetermine;

   (5) To make and execute agreements of lease, conditionalsales contracts, installment sales contracts, loan agreements, constructioncontracts, operation contracts, and other contracts and instruments necessaryor convenient in the exercise of the powers and functions of the corporationgranted by this chapter;

   (6) To conduct its activities, carry on its operations, andhave offices and exercise the powers granted by this chapter, within or withoutthe state;

   (7) To elect or appoint officers, and agents of thecorporation, and define their duties and fix their compensation;

   (8) To make and alter by-laws, not inconsistent with thischapter, for the administration and regulation of the affairs of thecorporation, and those by-laws may contain provisions indemnifying any personwho is or was a director, officer, employee, or agent of the corporation, or isor was serving at the request of the corporation as a director, officer,employee, or agent of another corporation, partnership, joint venture, trust,or other enterprise, in the manner and to the extent provided in §7-1.2-814;

   (9) To hire and fire employees as is necessary to properlyconduct the daily operation of the corporation; and

   (10) To have and exercise all powers necessary or convenientto effect its purposes.