45-8A-111.08
Section 45-8A-111.08 Powers of authority. (a) The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
perpetuity, subject to Section 45-8A-111.19) specified in its certificate of incorporation;
(2) To sue and be sued in its own name and to prosecute and defend civil actions in any court
having jurisdiction of the subject matter and of the parties; (3) To adopt and make use of
a corporate seal and to alter the same at pleasure; (4) To adopt and alter bylaws for the
regulation and conduct of its affairs and business; (5) To acquire, whether by purchase, construction,
exchange, gift, lease, or otherwise and to refinance existing indebtedness on, improve, maintain,
equip, and furnish one or more projects, including all real and personal properties which
the board of the authority may deem necessary in connection...
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45-8A-20.08
Section 45-8A-20.08 Powers of authority. (a) The authority shall have the following powers,
together with all powers incidental thereto or necessary to the discharge thereof in corporate
form: (1) To have succession by its corporate name for the duration of time (which may be
perpetuity, subject to the provisions of Section 45-8A-20.19) specified in its certificate
of incorporation; (2) To sue and be sued in its own name and to prosecute and defend civil
actions in any court having jurisdiction of the subject matter and of the parties; (3) To
adopt and make use of a corporate seal and to alter the same at pleasure; (4) To adopt and
alter bylaws for the regulation and conduct of its affairs and business; (5) To acquire, whether
by purchase, construction, exchange, gift, lease, or otherwise and to refinance existing indebtedness
on, improve, maintain, equip, and furnish one or more projects, including all real and personal
properties which the board of the authority may deem necessary in...
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7-2A-201
Section 7-2A-201 Statute of frauds. (1) A lease contract is not enforceable by way of action
or defense unless: (a) the total payments to be made under the lease contract, excluding payments
for options to renew or buy, are less than $1,000; or (b) there is a writing, signed by the
party against whom enforcement is sought or by that party's authorized agent, sufficient to
indicate that a lease contract has been made between the parties and to describe the goods
leased and the lease term. (2) Any description of leased goods or of the lease term is sufficient
and satisfies subsection (1)(b), whether or not it is specific, if it reasonably identifies
what is described. (3) A writing is not insufficient because it omits or incorrectly states
a term agreed upon, but the lease contract is not enforceable under subsection (1)(b) beyond
the lease term and the quantity of goods shown in the writing. (4) A lease contract that does
not satisfy the requirements of subsection (1), but which is...
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11-101A-8
Section 11-101A-8 Powers of authority. (a) In addition to all other powers granted elsewhere
in this chapter, and subject to the express provisions of its certificate of incorporation,
an authority shall have the following powers, together with all powers incidental thereto
or necessary to the discharge thereof in corporate form: (1) To have succession by its corporate
name for the duration of time, which may be in perpetuity, specified in its certificate of
incorporation, or until dissolved as provided in Section 11-101A-24. (2) To sue and be sued
in its own name in civil suits and actions, and to defend suits and actions against it, subject,
however, to Chapter 93 of this title, which chapter is hereby made applicable to the authority.
(3) To adopt, alter, amend, and repeal bylaws, regulations, and rules for the regulation and
conduct of its affairs and business. (4) To adopt and make use of a corporate seal and to
alter the same at pleasure. (5) To acquire, whether by purchase,...
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11-62-7
Section 11-62-7 Powers of authority generally; operation of facilities by authority. (a) Every
authority shall have all of the powers necessary and convenient to carry out and effectuate
the purposes and provisions of this chapter, including, without limiting the generality of
the foregoing, the following powers: (1) To have succession in its corporate name for the
duration of time (which may be in perpetuity, subject to the provisions of Section 11-62-17)
specified in its certificate of incorporation; (2) To sue and be sued in its own name in civil
suits and actions and to defend suits against it; (3) To adopt and make use of a corporate
seal and to alter the same at pleasure; (4) To adopt, alter, and repeal bylaws, regulations,
and rules, not inconsistent with the provisions of this chapter, for the regulation and conduct
of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure,
lease, or otherwise, and to expand, improve, maintain, equip, and...
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27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
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37-6-42
Section 37-6-42 Enumerated powers. (a) Any such electric cooperative shall have power: (1)
To supply telephone service in rural areas to its members, to governmental agencies and political
subdivisions, to other persons, and to business entities not in excess of 40 percent of the
number of its members; provided that wireless communications services, including, without
limitation, services classified as of January 1, 1997, as "commercial mobile radio services"
by the Federal Communications Commission, may be provided to any person, firm, corporation,
governmental agency, or political subdivision within any area for which the electric cooperative
is authorized to provide such wireless service under federal law or regulations, without the
business entity being a member of the cooperative, regardless of whether the business entity
is in excess of 40 percent of the number of its members, and, without limiting the foregoing,
should a cooperative acquire any facilities in rural areas...
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11-20-37
Section 11-20-37 Powers generally; location and operation of projects. (a) The corporation
shall have the following powers, together with all powers incidental thereto or necessary
for the performance of those stated in this subsection: (1) To have succession by its corporate
name for the period specified in the certificate of incorporation unless sooner dissolved
as provided in this article; (2) To sue and be sued and to prosecute and defend civil actions
in any court having jurisdiction of the subject matter and of the parties; (3) To have and
to use a corporate seal and to alter the same at pleasure; (4) To acquire, whether by purchase,
construction, exchange, gift, lease or otherwise, improve, maintain, equip and furnish one
or more projects, including all real and personal properties which the board of directors
of the corporation may deem necessary in connection therewith and regardless of whether or
not any such projects or any part thereof shall then be in existence; (5) To...
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11-54-87
Section 11-54-87 Powers of boards generally; location and operation of projects of boards generally;
meetings of board of directors. (a) The industrial development board shall have the following
powers together with all powers incidental thereto or necessary for the performance of those
stated in this subsection: (1) To have succession by its corporate name for the period specified
in the certificate of incorporation unless sooner dissolved as provided in this article; (2)
To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction
of the subject matter and of the parties; (3) To have and to use a corporate seal and to alter
the same at pleasure; (4) To acquire, whether by purchase, construction, exchange, gift, lease,
or otherwise and to improve, maintain, equip, and furnish one or more projects, including
all real and personal properties which the board of directors of the board may deem necessary
in connection therewith, regardless of whether or not...
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11-97-8
Section 11-97-8 Powers of corporation; location of facilities of corporation. (a) Every corporation
shall have all of the powers necessary and convenient to carry out and effectuate the purposes
and provisions of this chapter, including (without limiting the generality of the foregoing)
the following powers: (1) To have succession in its corporate name for the duration of time
(which may be in perpetuity, subject to the provisions of Section 11-97-22 hereof) specified
in its certificate of incorporation; (2) To sue and be sued in its own name in civil suits
and actions and to defend suits against it; (3) To adopt and make use of a corporate seal
and to alter the same at pleasure; (4) To adopt, alter, and repeal bylaws, regulations, and
rules, not inconsistent with the provisions of this chapter, for the regulation and conduct
of its affairs and business; (5) To acquire, whether by gift, purchase, transfer, foreclosure,
lease, or otherwise, to construct and to expand, improve, operate,...
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