10-301. Purposes Subject to any limitations or requirements contained in its articles of incorporation or in any other applicable law, a corporation shall have the purpose of engaging in and may engage in any lawful business activity.
10-302. General powers Unless its articles of incorporation provide otherwise, every corporation has perpetual duration and succession in its corporate name and has the same powers as an individual to do all things necessary or convenient to carry out its business and affairs, including power to: 1. Sue and be sued, complain and defend in […]
10-303. Emergency powers A. In anticipation of or during an emergency as prescribed in subsection D of this section, the board of directors of a corporation may: 1. Modify lines of succession to accommodate the incapacity of any director, officer, employee or agent. 2. Relocate the principal office, designate alternative principal offices or regional offices […]
10-304. Validity of actions A. Except as provided in subsection B of this section, the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act. B. A corporation’s power to act may be challenged either: 1. In a proceeding by a shareholder against the corporation […]
