§ 63E-2-106. Powers.

     Except as specifically modified in its authorizing statute, each independent corporation shall have the power to:

(1) exist as a:

(a) public corporation; or

(b) quasi-public corporation;

(2) perform its stated public purpose;

(3) sue and be sued in its own name;

(4) retain and be represented by legal counsel independent of the attorney general;

(5) create foundations or subsidiaries;

(6) act in accordance with all other powers granted in its authorizing statute and by duly issued license or franchise;

(7) act in all ways as a nonprofit corporation established under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, that do not conflict with:

(a) this title;

(b) the authorizing statute of the independent corporation; or

(c) statutes and regulations to which the independent corporation is subject.

Enacted by Chapter 201, 2001 General Session