Mississippi Code 1972 (2023) › Title 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS (§§ 79-1-1 — 79-37-604) › Chapter 11 - NONPROFIT, NONSHARE CORPORATIONS AND RELIGIOUS SOCIETIES (§§ 79-11-1 — 79-11-NEW) › MISSISSIPPI NONPROFIT CORPORATION ACT (§§ 79-11-101 — 79-11-405) › Section 79-11-151 - Powers of corporation

Each corporation shall have and exercise all powers necessary or convenient to effect any or all of the purposes for which the corporation is organized including, without limitation, power:
(a)
To have perpetual succession by its corporate name unless a limited period of duration is stated in its articles of incorporation.
(b)
To sue and be sued, complain and defend, in its corporate name.
(c)
To have a corporate seal which may be altered at will, and to use the same by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced.
(d)
To purchase, take, receive, lease, take by gift, devise or bequest, or otherwise acquire, own, hold, improve, use and otherwise deal in and with real or personal property, or any interest therein, wherever situated.
(e)
To sell, convey, mortgage, pledge, lease, exchange, transfer and otherwise dispose of all or any part of its property and assets.
(f)
To lend money to its employees other than its officers and directors and otherwise assist its employees, officers and directors.
(g)
To purchase, take, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge or otherwise dispose of, and otherwise use and deal in and with, shares or other interests in, or obligations of, other domestic or foreign corporations, whether business or nonprofit, associations, partnerships or individuals, or direct or indirect obligations of the United States, or of any other government, state, territory, governmental district or municipality or of any instrumentality thereof.
(h)
To make contracts and guarantees, incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds and other obligations and secure any of its obligations by mortgage or pledge of all or any of its property, franchises and income, and make contracts of guaranty and suretyship.
(i)
To lend money for its corporate purposes, invest and reinvest its funds and take and hold real and personal property as security for the payment of funds so lent or invested.
(j)
To conduct its affairs, carry on its operations and have offices and exercise the powers granted by Section
79-11-101
et seq. in any state, territory, district or possession of the United States or in any foreign country.
(k)
To elect or appoint officers and agents of the corporation, who may be directors or members, and define their duties and fix their compensation.
(l)
To make and alter bylaws, not inconsistent with its articles of incorporation or with the laws of this state, for the administration and regulation of the affairs of the corporation.
(m)
Unless otherwise provided in the articles of incorporation, to make donations for the public welfare or for charitable, scientific or educational purposes.
(n)
To pay pensions and establish pension plans or pension trusts for any or all of its directors, officers and employees.
(o)
To cease its corporate activities and surrender its corporate franchise.
(p)
To impose dues, assessments, admission and transfer fees upon its members.
(q)
To establish conditions for admission to membership, admit members and issue memberships.
(r)
To carry on a business.
(s)
To do all things necessary or convenient, not inconsistent with law, to further the activities and affairs of the corporation.
Laws, 1987, ch. 485, § 26; Laws, 1997, ch. 418, § 54, eff. 7/1/1997.