PART III. PURPOSES AND POWERS

 

[§414D-51]  Purposes.  (a)  Everycorporation incorporated under this chapter has the purpose of engaging in anylawful activity unless a more limited purpose is set forth in the articles ofincorporation.

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