[§431:14A-106]  Powers; generally. Except as otherwise limited by this chapter, the company may:

(1)  Sue, be sued, complain, and defend, in itscorporate name;

(2)  Have a corporate seal, which may be altered atpleasure, and use the seal by causing it, or a facsimile thereof, to beimpressed, affixed, or in any other manner reproduced;

(3)  Purchase, take, receive, lease, take by gift,devise, or bequest, or otherwise acquire, own, hold, improve, use, andotherwise deal in and with real or personal property, or any interest therein,wherever situated;

(4)  Sell, convey, mortgage, pledge, lease, exchange,transfer, and otherwise dispose of all and any part of its property and assets;

(5)  Make contracts and incur liabilities, borrowmoney at such rates of interest as the board may determine, issue guarantycapital shares and surplus notes, require capital contributions, issue itsnotes, debenture bonds, and other obligations, secure any of its obligations bymortgage or pledge of all or any portion of its property or income, and securefinancing by any board approved mechanism;

(6)  Allocate fiduciary responsibilities among thedirectors and designate other persons to carry out fiduciary responsibilities;

(7)  Collect, receive, hold, and disburse all money payableto or by the company;

(8)  Deposit the company's money in banks ordepositories selected by the board and withdraw the company's money  from suchbanks or depositories; provided that the withdrawal shall be made or authorizedonly upon the signatures of at least two persons approved by the board;

(9)  Pay money from the company to effectuate thecompany's purpose and administration, including amounts for costs incurred toestablish the company; and

(10)  Exercise all powers necessary or convenient toeffect the purposes of the company. [L 1996, c 261, pt of §2]