(1) Corporations formed under this article:
Shall be bodies corporate and politic in fact and in name, by the name stated in theaffidavit, and by that name have succession for the period for which they are organized;
May sue and be sued in any court in this state;
May have a common seal which they may alter or renew at pleasure by filing animpression of the same in the office of the clerk and recorder of the county in which any such corporation may be formed under this article;
May own, possess, and enjoy so much real and personal property as is necessary forthe transaction of their business, whether acquired by purchase, grant, devise, gift, or otherwise;
May from time to time sell and dispose of real and personal property or any partthereof when not required for the use of the corporation; and
May borrow money and pledge their franchises and property, both real and personal,to secure the payment thereof and may exercise all the powers necessary and requisite to carry into effect the object for which they may be formed under this article.
Source: L. 1879: p. 35, § 5. G.S. § 388. R.S. 08: § 1038. C.L. § 2404. CSA: C. 41, § 201. CRS 53: § 31-22-5. C.R.S. 1963: § 31-21-5.