A corporation organized under this chapter may
(1) acquire by donation, gift, bequest, devise, or purchase, and hold and maintain real and personal property, and grant, sell, convey, or otherwise dispose of property as may be necessary to carry on or promote the objects of the corporation, but not for the purpose of obtaining revenue or profits from the property;
(2) borrow money and give written obligations for repayment, and give mortgages or other liens upon real or personal property to secure payment of written obligations, when necessary to promote the objects of the corporation;
(3) enter into contracts;
(4) sue and be sued;
(5) adopt and use a common seal by which all deeds and acts of the corporation may be authenticated.
Other Sections in this Chapter:
- Sec. 10.40.010. Authorized purposes.
- Sec. 10.40.015. Distinguishable name.
- Sec. 10.40.020. Execution of articles of incorporation.
- Sec. 10.40.030. Filing and recording of articles of incorporation.
- Sec. 10.40.040. Contents of articles of incorporation.
- Sec. 10.40.050. Amendment of articles and change of seal.
- Sec. 10.40.060. Corporate existence.
- Sec. 10.40.080. Requirements for instruments.
- Sec. 10.40.090. Filing impression of seal.
- Sec. 10.40.100. Articles as evidence of corporate existence.
- Sec. 10.40.105. Biennial report.
- Sec. 10.40.110. Succession to property upon death, resignation, or removal of person incorporated as corporation sole.
- Sec. 10.40.120. Succession to property on death, resignation, or removal of person not incorporated as corporation sole.
- Sec. 10.40.125. Other transactions.
- Sec. 10.40.130. Service of process. Repealed
- Sec. 10.40.140. Fees and penalties. Repealed
- Sec. 10.40.145. Cancellation of filings.
- Sec. 10.40.150. Involuntary dissolution.