Section 10A-20-2.02

Powers of corporation.

Corporations not of a business character created under this article or created by special act of the Legislature heretofore may acquire, hold, administer, distribute, or dispose of real and personal property, may take, receive, and acquire property by gift, devise, or bequest and hold, own, administer, use, distribute, and dispose of the property for the advancement, promotion, extension, or maintenance of the causes and objects as may be prescribed by the constitution and bylaws of the corporation in conformity with all lawful conditions imposed by the donor and may exercise other powers as are incident to private corporations. All such powers may be exercised by the corporation in its own right or as trustee or as personal representative.

(Code 1852, §1262; Code 1862, §1526; Code 1876, §1996; Code 1886, §1696; Code 1896, §1304; Code 1907, §3615; Acts 1911, No. 74, p. 49; Code 1923, §7169; Code 1940, T. 10, §126; Acts 1955, No. 393, p. 929; §10-4-21; amended and renumbered by Act 2009-513, p. 967, §326.)