1-16A-15. Corporate powers of authority.
The authority has the following powers together with all powers incidental or necessary for the performance thereof:
(1)To have perpetual succession as a body politic and corporate;
(2)To adopt bylaws for the regulation of its affairs and the conduct of its business;
(3)To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;
(4)To have and to use a corporate seal and to alter the same at pleasure;
(5)To maintain an office at such place or places as it may designate;
(6)To do all things necessary and convenient to carry out the purposes of this chapter;
(7)To establish a minimum amount of cash and investment reserves; and
(8)[Repealed July 1, 2019 by SL 2018, ch 8, §1.]
Source: SL 1972, ch 10, §7 (1) to (5), (15); SL 2018, ch 8, §1.