§ 31-25-37. Issuance of bonds by bank for corporate purposes
The bank shall have the power, from time to time, to issue bonds for any of its corporate purposes, including without limitation to pay bonds, including the interest thereon, and whenever it deems refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not […]
§ 31-25-39. Resolution of Board authorizing or relating to issuance of bonds; contracts
In any resolution of the board of the bank authorizing, or relating to the issuance of any bonds, the board, in order to secure the payment of the bonds and in addition to its other powers, may covenant and contract with the holders of the bonds: To pledge to any payment or purpose all or […]
§ 31-25-41. Pledge of revenues or other moneys
Any pledge of revenues or other moneys made by the bank shall be valid and binding from the time when the pledge is made. The revenues or other moneys so pledged and thereafter received by the bank shall immediately be subject thereof or further act, and the lien of any such pledge shall be valid […]
§ 31-25-43. Establishment of funds or accounts
The bank may establish such funds or accounts as may be, in its discretion, necessary or desirable to further the accomplishment of the purposes of the bank or to comply with the provisions of any agreement made by or any resolution of the bank.
§ 31-25-45. Purchase of bonds by Bank
The bank, subject to such agreements with bondholders as may then exist, shall have power out of any funds available therefor to purchase bonds of the bank, which shall thereupon be cancelled, at a price or prices as shall be determined by the bank.
§ 31-25-9. Bank’s powers vested in board
The powers conferred upon the bank hereby are to be vested in the board.
§ 31-25-11. Quorum for conducting business; per diem compensation; expenses
A majority of the voting members of the board then in office shall constitute a quorum for the purpose of conducting business and exercising its powers. Action may be taken and motions and resolutions adopted by the board upon the affirmative vote of a majority of its members present at any meeting at which a […]
§ 31-25-15. Disclosure of contractual interest
Any member, officer or employee of the bank who is interested either directly or indirectly, or who is an officer or employee of, or has an ownership interest in any firm or agency interested, directly or indirectly, in any contract with the bank, shall disclose this interest to the board. This interest shall be set […]
§ 31-25-17. Acceptance of membership on bank; nonforfeiture of office or employment
Notwithstanding the provisions of any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his office or employment by reason of his acceptance of membership on the bank or his services as such member.
§ 31-25-19. Powers and duties of Bank
In addition to the other powers granted to the bank under this act, the bank shall have the power: To sue and be sued in its own name; To have an official seal and to alter the same at pleasure; To maintain an office at such place or places within this state as it may […]