§211F-4  Powers of corporation.  (a) The corporation shall have all of the powers necessary to carry out itspurposes which shall include but not be limited to the power to:

(1)  Adopt rules pursuant to chapter 91 to carry outthe purposes of this chapter;

(2)  Adopt an official seal;

(3)  Sue and be sued, in its own name;

(4)  Finance, conduct, or cooperate in financing orconducting technological, business, financial, or other investigations that arerelated to or likely to lead to business and economic development by making andentering into contracts and other appropriate arrangements, including theprovision of loans, start-up and expansion capital, and other forms ofassistance;

(5)  Solicit, study, and assist in the preparation ofbusiness plans and proposals;

(6)  Provide advice and technical and marketingassistance, support, and promotion to enterprises in which investments havebeen made;

(7)  Coordinate the corporation's programs with anyeducation and training program;

(8)  Carry out specialized programs designed toencourage the development of new products, businesses, and markets;

(9)  Prepare, publish, and distribute such technicalstudies, reports, bulletins, and other materials as it deems appropriate,subject only to the maintenance and respect for confidentiality of clientproprietary information;

(10)  Organize, conduct, sponsor, or cooperate in andassist in the conduct of conferences, demonstrations, and studies relating tothe stimulation and formation of businesses and to fulfilling the objectivesand purposes of chapter 211G;

(11)  Provide and pay for such advisory services andtechnical, managerial, and marketing assistance, support, and promotion as maybe necessary or desirable to carry out the purposes of this chapter;

(12)  Acquire, hold, and sell qualified securities;

(13)  Consent, subject to the provisions of anycontract with noteholders or bondholders, whenever the corporation deems itnecessary or desirable in the fulfillment of the purposes of this chapter, tothe modification, with respect to rate of interest, time of payment of anyinstallment of principal or interest, or any other terms, of any contract oragreement of any kind to which the corporation is a party;

(14)  Accept donations, grants, bequests, and devisesof money, property, service, or other things of value that may be received fromthe United States or any agency thereof, any governmental agency, or any publicor private institution, person, firm, or corporation, to be held, used, orapplied for any or all of the purposes specified in this chapter.  Receipt ofeach donation or grant shall be detailed in the annual report of thecorporation.  The report shall include the identity of the donor or lender, thenature of the transaction, and any conditions attaching thereto;

(15)  Invest any funds held in reserves or sinkingfunds, or any funds not required for immediate disbursement, in suchinvestments as may be lawful for fiduciaries in the State;

(16)  Acquire real property, or an interest therein, bypurchase or foreclosure, where that acquisition is necessary or appropriate toprotect or secure any investment or loan in which the corporation has aninterest; sell, transfer, and convey the property to a buyer and if the sale,transfer, or conveyance cannot be effected with reasonable promptness or at areasonable price, to lease the property to a tenant;

(17)  Acquire, own, hold, dispose of, and encumberpersonal property of any nature, or any interest therein;

(18)  Enter into agreements or other transactions withany federal, state, or county agency;

(19)  Make contracts and execute all instrumentsnecessary or convenient for the carrying on of its business;

(20)  Appear in its own behalf before state, county, orfederal agencies;

(21)  Procure insurance as may be necessary;

(22)  Appoint officers, employees, consultants, agents,and advisors who shall not be subject to chapter 76, and prescribe their dutiesand fix compensation within the limitations provided by law;

(23)  Appoint advisory committees as deemed necessary;and

(24)  Exercise any other powers of a corporationorganized under the laws of the State.

(b)  The corporation shall not promise toanswer for the debts of any other person. [L 1990, c 110, pt of §3; am L 2000,c 253, §150; am L 2004, c 215, §5]