Every corporation incorporated under articles 101 to 117 of this title has the purpose of engaging in any lawful business unless a more limited purpose is stated in the articles of incorporation. Where another statute of this state requires that corporations of a particular class shall be formed or incorporated exclusively thereunder, corporations of that […]
Unless otherwise provided in the articles of incorporation, every corporation has perpetual duration and succession in its domestic entity name and has the same powers as an individual to do all things necessary or convenient to carry out its business and affairs, including the power: To sue and be sued, complain, and defend in its […]
In anticipation of or during an emergency defined in subsection (4) of this section, the board of directors may: Modify lines of succession to accommodate the incapacity of any director, officer, employee, or agent; and Relocate the principal office or additional offices or regional offices, or authorize the officers to do so. During an emergency […]
Except as provided in subsection (2) of this section, the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act. A corporation’s power to act may be challenged: In a proceeding by a shareholder against the corporation to enjoin the act; In a proceeding by […]
Defective corporate actions. A defective corporate action is not void or voidable if ratified in accordance with subsection (2) of this section or validated in accordance with subsection (7) of this section. Ratification under subsection (2) of this section or validation under subsection (7) of this section is not the exclusive means of ratifying or […]
