Wisconsin Statutes 238.04 – Powers of board
Current as of: 2023 | Check for updates
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The board shall have all the powers necessary or convenient to carry out the purposes and provisions of this chapter. In addition to all other powers granted the board under this chapter, the board may specifically:
Terms Used In Wisconsin Statutes 238.04
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Officers: when applied to corporations include directors and trustees. See Wisconsin Statutes 990.01
- seal: includes the word "seal" the letters "L S" and a scroll or other device intended to represent a seal, if any is affixed in the proper place for a seal, as well as an impression of a seal on the instrument. See Wisconsin Statutes 990.01
(1) Adopt, amend, and repeal any bylaws, policies, and procedures for the regulation of its affairs and the conduct of its business.
(2) Have a seal and alter the seal at pleasure.
(3) Maintain an office.
(4) Sue and be sued.
(5) Accept gifts, grants, loans, or other contributions from private or public sources.
(6) Establish the corporation‘s annual budget and monitor the fiscal management of the corporation.
(7) Execute contracts and other instruments required for the operation of the corporation.
(8) Employ any officers, agents, and employees that it may require and determine their qualifications, duties, and compensation.
(9) Issue notes, bonds, and any other obligations.
(10) Make loans and provide grants.
(11) Incur debt.
(12) Procure liability insurance.
(14) Enter into agreements regarding compensation, space, and other administrative matters as are necessary to operate offices in other states and foreign countries. Such agreements shall be subject to the approval of the secretary of administration.
(15) Appoint and supervise the economic development liaison project position created in 2017 Wisconsin Act 58, section 61 (1).