PART III. 
PURPOSES AND POWERS



 



[§414D-51]  Purposes.  (a)  Every
corporation incorporated under this chapter has the purpose of engaging in any
lawful activity unless a more limited purpose is set forth in the articles of
incorporation.



(b)  A corporation engaging in an activity that
is subject to regulation under another statute of this State may incorporate
under this chapter only if incorporation under this chapter is not prohibited
by the other statute.  The corporation shall be subject to all limitations of
the other statute. [L 2001, c 105, pt of §1]