[§414-42]  General powers.  Unless its
articles of incorporation provide otherwise, every corporation has perpetual
duration and succession in its corporate name and has the same powers as an
individual to do all things necessary or convenient to carry out its business
and affairs, including without limitation, the power:



(1)  To sue and be sued, complain and defend in its
corporate name;



(2)  To have a corporate seal, which may be altered at
will, and to use it, or a facsimile of it, by impressing or affixing it or in
any other manner reproducing it;



(3)  To make and amend bylaws, not inconsistent with
its articles of incorporation or with the laws of this State, for managing the
business and regulating the affairs of the corporation;



(4)  To purchase, receive, lease, or otherwise
acquire, and own, hold, improve, use, and otherwise deal with, real or personal
property, or any legal or equitable interest in property, wherever located;



(5)  To sell, convey, mortgage, pledge, lease,
exchange, and otherwise dispose of all or any part of its property;



(6)  To purchase, receive, subscribe for, or otherwise
acquire; own, hold, vote, use, sell, mortgage, lend, pledge, or otherwise
dispose of; and deal in and with shares or other interests in, or obligations
of, any other entity;



(7)  To make contracts and guarantees, incur
liabilities, borrow money, issue its notes, bonds, and other obligations (which
may be convertible into or include the option to purchase other securities of
the corporation), and secure any of its obligations by mortgage or pledge of
any of its property, franchises, or income;



(8)  To lend money, invest and reinvest its funds, and
receive and hold real and personal property as security for repayment;



(9)  To be a promoter, partner, member, associate, or
manager of any partnership, joint venture, trust, or other entity;



(10)  To conduct its business, locate offices, and
exercise the powers granted by this chapter within or without this State;



(11)  To elect directors and appoint officers,
employees, and agents of the corporation, define their duties, fix their
compensation, and lend them money and credit;



(12)  To pay pensions and establish pension plans,
pension trusts, profit sharing plans, share bonus plans, share option plans,
and benefit or incentive plans for any or all of its current or former
directors, officers, employees, and agents;



(13)  To make donations for the public welfare or for
charitable, scientific, or educational purposes;



(14)  To transact any lawful business that will aid
governmental policy; and



(15)  To make payments or donations, or do any other
act, not inconsistent with law, that furthers the business and affairs of the
corporation. [L 2000, c 244, pt of §1]