47-22-59. Powers of corporation--Contracting--Borrowing--Issuance of securities.
Each corporation shall have power to make contracts and incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds, and other obligations, and secure any of its obligations by mortgage or pledge of all or any of its property, franchises, and income.
Source: SL 1965, ch 24, §5 (8).