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



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



(2)  Have a corporate seal, which may be altered at
pleasure, and use the seal by causing it, or a facsimile thereof, to be
impressed, 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, and
otherwise 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, borrow
money at such rates of interest as the board may determine, issue guaranty
capital shares and surplus notes, require capital contributions, issue its
notes, debenture bonds, and other obligations, secure any of its obligations by
mortgage or pledge of all or any portion of its property or income, and secure
financing by any board approved mechanism;



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



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



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



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



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