Section 432. Powers of the fund

The fund shall have power:
    1. To sue and be sued.
    2. To have a seal and to alter the seal at its pleasure.
    3. To make by-laws for the management and regulation of its affairs.
    4. To acquire, hold and dispose of personal property for its corporate
  purposes.
    5.  To  appoint  officers,  agents  and  employees, to prescribe their
  qualifications and to fix their compensation.
    6. To perform such other acts and engage in such other  activities  as
  may be necessary and proper for exercising its powers and performing its
  duties under this article.