Section 10.06.010. General powers.

Subject to the limitations in its articles of incorporation, the provisions of this chapter and other applicable law, a corporation has all the powers of a natural person in carrying out its business activities, including, without limitation, the power to
        (1) have perpetual succession by its corporate name;
        (2) sue and be sued in its corporate name;
        (3) adopt a corporate seal and alter it, and use it by having it or a facsimile of it impressed, affixed, or reproduced;
        (4) buy, take, receive, lease, or otherwise acquire, own, hold, improve, use, and otherwise deal in, real or personal property or an interest in the property, wherever situated;
        (5) sell, convey, mortgage, pledge, lease, exchange, transfer, and otherwise dispose of all or a part of its property and assets;
        (6) lend money, if properly approved, to its employees, officers, and directors, and otherwise assist its employees, officers, and directors;
        (7) buy, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in shares or other interests in, or obligations of, other domestic or foreign corporations, associations, partnerships, or individuals, or direct or indirect obligations of the United States or of any other government, state, territory, governmental district or municipality or an instrumentality of these;
        (8) make contracts and guarantees, incur liabilities, borrow money at the rates of interest the corporation determines, issue notes, bonds, and other obligations, and secure its obligations by mortgage or pledge of all or any of its property, franchise and income;
        (9) lend money for its corporate purposes, invest and reinvest its money, and take and hold real and personal property as security for the payment of money loaned or invested;
        (10) conduct business, carry on operations, and have offices and exercise the powers granted by this chapter in a state, territory, district, or possession of the United States, or in a foreign country;
        (11) elect or appoint officers and agents of the corporation and define their duties and fix their compensation;
        (12) make and alter bylaws not inconsistent with its articles of incorporation or with state law, for the administration and regulation of the affairs of the corporation;
        (13) donate for the public welfare or for charitable, scientific or educational purposes, and in time of war donate in aid of war activities;
        (14) transact lawful business in time of war in aid of the United States in the prosecution of the war;
        (15) pay pensions and establish pension plans, pension trusts, profit-sharing plans, stock bonus plans, stock option plans and other incentive plans for its directors, officers, and employees;
        (16) cease its corporate activities and surrender its corporate franchise;
        (17) have and exercise the powers of a limited or general partner or a joint venturer in association with one or more persons, corporations, partnerships, or associations;
        (18) have and exercise all powers necessary or convenient to carry out the purposes for which the corporation is organized.

Authorities

6.05.301;10.06.955;10.10.040

Notes

References

AS 6.05.301 .301">Sec. 06.05.301. Applicability of corporations code.
AS 10.06.955 Application to existing corporations.
AS 10.10.040 General powers.

History

(Sec. 1 ch 166 SLA 1988; am Sec. 1 ch 82 SLA 1989)