The trustees shall:
1. Prosecute to final judgment and defend all suits instituted by or against the corporation.
2. Collect all money due the same.
3. Liquidate all lawful demands against the same, and for that purpose shall sell and convey any property belonging to such corporation, or so much thereof as may be necessary.
4. Generally, do all acts required to bring to a speedy close all of the affairs of the corporation.
5. Make a report of their proceedings to the board of county commissioners at each session of the board.
[5:30:1865; B § 3916; BH § 2083; C § 2233; RL § 971; NCL § 1227]