§ 42-63.4-4 - General powers. - Rhode Island Statutes

SECTION 42-63.4-4

   § 42-63.4-4  General powers. – Except to the extent inconsistent with any specific provision of this chapter,the corporation shall have the 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 of the seal, to be impressed oraffixed, or 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 in personal property, wherever situated;

   (4) To sell, convey, mortgage, pledge, lease, exchange,transfer, and otherwise dispose of all or any part of its property and assetsfor such consideration and upon such terms and conditions as the corporationshall determine;

   (5) To make and execute agreements of lease, conditionalsales contracts, installment sales contracts, loan agreements, mortgages,construction contracts, operation contracts, and other contracts andinstruments necessary or convenient in the exercise of the powers and functionsof the corporation granted by this chapter;

   (6) To conduct its activities, carry on its operations, andhave offices and exercise the powers granted by this chapter, within or outsideof the 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; these by-laws may contain provisions indemnifying any person whois or was a director, officer, employee or agent of the corporation, or is orwas serving at the request of the corporation as a director, officer, employeeor agent of another corporation, partnership, joint venture, trust or otherenterprise, in the manner and to the extent provided in § 7-1.2-814 of thebusiness corporation act;

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

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