General corporate powers of association

The association may: (1) Employ or retain such persons as are necessary to handle claims and perform other duties of the association; (2) Borrow funds necessary to effect the purposes of this chapter in accord with the plan of operation; (3) Sue or be sued. The power to sue includes the power and right to intervene as a party before any court in this state that has jurisdiction over an insolvent insurer as defined by this chapter; (4) Negotiate and become a party to such contracts as are necessary to carry out the purpose of this chapter; (5) Perform such other acts as are necessary or proper to effectuate the purpose of this chapter. Source: SL 2000, ch 247 , § 7.