Section 2001. General corporate powers


Latest version.
  • 1. Every corporation shall have, in
      addition to all other powers  granted  by  this  chapter  or  any  other
      statute of this state, the following powers:
        (a) To sue and be sued in all courts and to participate in actions and
      proceedings, whether judicial, administrative, arbitrative or otherwise,
      in like cases as natural persons.
        (b)  To have a corporate seal, and to alter such seal at pleasure, and
      to use it by causing it or a facsimile to be  affixed  or  impressed  or
      reproduced in any other manner.
        (c)  To  adopt,  amend  or repeal by-laws, including emergency by-laws
      made pursuant to subdivision sixteen of  section  twelve  of  the  state
      emergency  defense act, relating to the business of the corporation, the
      conduct of its affairs, its rights or powers or the rights or powers  of
      its stockholders, directors or officers.
        (d)  To  make  donations,  irrespective  of corporate benefit, for the
      public welfare or for community fund, hospital, charitable, educational,
      scientific, civic or similar purposes, and  in  time  of  war  or  other
      national emergency in aid thereof.
        (e)  To pay pensions, establish and carry out pension, profit-sharing,
      savings, thrift and  other  retirement,  incentive  and  benefit  plans,
      trusts  and  provisions  for  any  or all of its directors, officers and
      employees.
        (f) To have perpetual existence.
        2. Every corporation, subject to any  limitations  or  other  specific
      provisions  contained in this chapter or any other statute of this state
      or its organization certificate, shall have such of the following powers
      as shall be appropriate in conducting the business of the corporation:
        (a) To purchase, receive, take by  grant,  gift,  devise,  bequest  or
      otherwise,  lease, or otherwise acquire, own, hold, improve, employ, use
      and otherwise deal in and  with,  real  or  personal  property,  or  any
      interest therein, wherever situated.
        (b)  To  sell,  convey, lease, exchange, transfer or otherwise dispose
      of, all or any  of  its  property  or  any  interest  therein,  wherever
      situated.
        (c) To make contracts, give guarantees and incur liabilities.
        (d)  To  do  business,  carry  on its operations, and have offices and
      exercise the powers granted by this chapter in any  jurisdiction  within
      or without the United States.
        (e)  To  elect  or appoint officers, employees and other agents of the
      corporation,  define  their  duties,  fix  their  compensation  and  the
      compensation of directors, and to indemnify corporate personnel.
        (f)  To  be a promoter, partner, member, associate or manager of other
      business enterprises or ventures, or to  the  extent  permitted  in  any
      other  jurisdiction  to  be an incorporator of other corporations of any
      type  or  kind;  provided,  however,  that  nothing  contained  in  this
      paragraph  shall  authorize  a  banking  organization  to  engage in any
      activity not otherwise  authorized  by  the  laws  of  New  York  or  by
      regulations of the banking board or of the superintendent.
        (g)  To have and exercise all other powers necessary or appropriate in
      conducting the business of the corporation.