New Hampshire Revised Statutes 301-A:4 – Powers of Association
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Each association shall have the following powers in addition to those granted under N.H. Rev. Stat. § 293-A:3.02:
I. To continue as a corporation for the time specified in its certificate.
II. To have a corporate seal and to alter the same at pleasure.
III. To sue and to be sued in its corporate name.
IV. To make bylaws for the government and regulation of its affairs not inconsistent with the laws of this state.
V. To acquire, own, hold, sell, lease, pledge, mortgage or otherwise dispose of any property incident to its purposes and activities.
VI. To entirely own or control and exercise all the rights of membership in other cooperative associations chartered to make goods, services or facilities directly or indirectly available to its owners or voting stockholders on a nonprofit basis.
VII. To make mutual aid agreements with other associations formed on a cooperative and nonprofit basis, including the power to borrow money, contract debts, and make contracts.
VIII. To conduct its affairs within or without the state of New Hampshire.
IX. To exercise all powers not inconsistent with this chapter which may be necessary, convenient, or expedient for the accomplishment of its purposes and, to that end, the foregoing enumeration of powers shall not be deemed exclusive.
I. To continue as a corporation for the time specified in its certificate.
Terms Used In New Hampshire Revised Statutes 301-A:4
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- seal: shall include an impression of the official seal made upon the paper alone, as well as an impression thereof made by means of wax, or a wafer, affixed thereto. See New Hampshire Revised Statutes 21:11
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. To have a corporate seal and to alter the same at pleasure.
III. To sue and to be sued in its corporate name.
IV. To make bylaws for the government and regulation of its affairs not inconsistent with the laws of this state.
V. To acquire, own, hold, sell, lease, pledge, mortgage or otherwise dispose of any property incident to its purposes and activities.
VI. To entirely own or control and exercise all the rights of membership in other cooperative associations chartered to make goods, services or facilities directly or indirectly available to its owners or voting stockholders on a nonprofit basis.
VII. To make mutual aid agreements with other associations formed on a cooperative and nonprofit basis, including the power to borrow money, contract debts, and make contracts.
VIII. To conduct its affairs within or without the state of New Hampshire.
IX. To exercise all powers not inconsistent with this chapter which may be necessary, convenient, or expedient for the accomplishment of its purposes and, to that end, the foregoing enumeration of powers shall not be deemed exclusive.