1-16A-15Corporate powers of authority.

The authority has the following powers together with all powers incidental or necessary for the performance thereof:

(1)    To have perpetual succession as a body politic and corporate;

(2)    To adopt bylaws for the regulation of its affairs and the conduct of its business;

(3)    To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;

(4)    To have and to use a corporate seal and to alter the same at pleasure;

(5)    To maintain an office at such place or places as it may designate;

(6)    To do all things necessary and convenient to carry out the purposes of this chapter;

(7)    To establish a minimum amount of cash and investment reserves; and

(8)    [Repealed July 1, 2019 by SL 2018, ch 8, § 1.]

Source: SL 1972, ch 10, § 7 (1) to (5), (15); SL 2018, ch 8, § 1.