Utah Code 63E-2-106. Powers

Except as specifically modified in its authorizing statute, each independent corporation shall have the power to:

(1)

exist as a:

Authorizing statute: means the statute creating an entity as an independent entity. See Utah Code 63E-1-102
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.
Independent corporation: means a corporation incorporated in accordance with Chapter 2, Independent Corporations Act. See Utah Code 63E-1-102
Statute: A law passed by a legislature.

(a)	public corporation; or

(b)	quasi-public corporation;

(2)	perform its stated public purpose;

(3)	sue and be sued in its own name;

(4)	retain and be represented by legal counsel independent of the attorney general;

(5)	create foundations or subsidiaries;

(6)	act in accordance with all other powers granted in its authorizing statute and by duly issued license or franchise;

(7)

act in all ways as a nonprofit corporation established under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, that do not conflict with:

(a)	this title;

(b)	the authorizing statute of the independent corporation; or

(c)	statutes and regulations to which the independent corporation is subject.

Enacted by Chapter 201, 2001 General Session