General powers

185.03 General powers. Unless otherwise provided by its articles, a cooperative may: (1) Exist perpetually. (2) Sue and be sued. (3) Have a seal. (4) Make contracts, incur liabilities and borrow money; issue certificates representing indebtedness, or representing equity interests in its assets; acquire property; dispose of, mortgage, pledge, lease or otherwise use in any manner any of its property, or any interest therein, wherever situated. (5) Invest its funds, lend money for its purposes, and hold any property as security for repayment. (6) Conduct its business and affairs and have offices and exercise its powers in the United States or in any foreign country. (7) Elect officers and appoint agents, define their duties and fix their compensation. (8) Make and alter bylaws, consistent with its articles and the laws of this state, for the administration and regulation of its affairs. (9) Make donations for charitable, scientific, educational or religious purposes. (10) Effect the forfeiture to the cooperative of unclaimed funds, including all forms of distributions or credits under s.