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Independent Entities Code | |
Independent Corporations Act | |
Section 106 | Powers. |
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63E-2-106. Powers. 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 |
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