63E-2-106. Powers.
Except as specifically modified in its authorizing statute, each independent corporation shall have the power to:
Except as specifically modified in its authorizing statute, each independent corporation shall have the power to:
- (1) exist as a:
- (a) public corporation; or
- (b) quasi-public corporation;
- (2) perform its stated public purpose;
- (3) sue and be sued in its own name;
- (4) retain and be represented by legal counsel independent of the attorney general;
- (5) create foundations or subsidiaries;
- (6) act in accordance with all other powers granted in its authorizing statute and by duly issued license or franchise;
- (7) act in all ways as a nonprofit corporation established under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, that do not conflict with:
- (a) this title;
- (b) the authorizing statute of the independent corporation; or
- (c) statutes and regulations to which the independent corporation is subject.
Enacted by Chapter 201, 2001 General Session