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to carry out the purposes of this chapter; (7) To establish a minimum amount of cash and investment reserves; and (8) [Repealed July 1, 2019 by SL 2018, ch 8, § 1.]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.