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(1) General Purposes. Corporations may be organized under this chapter for any lawful purpose or purposes. Unless otherwise provided in its articles of incorporation, a corporation has general business purposes.

(2) General Powers. Subject to any limitations provided in any other laws of the Tribe, or in a corporation’s articles of incorporation or bylaws, each corporation shall have power:

(a) To have perpetual succession 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, except that the extent of the corporation’s liability shall be limited to the assets of the corporation. Tribal corporations shall be subject to the limitations contained in STC 6.20.080;

(c) To purchase, take, receive, lease or otherwise acquire, own, hold, improve, use and otherwise deal in and with real or personal property, or any interest therein, wherever situated;

(d) To sell, convey, mortgage, pledge, lease, exchange, transfer and otherwise dispose of all or any part of its property and assets;

(e) To lend money and use its credit to assist its employees;

(f) 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, 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;

(g) To make contracts and guarantees and incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds and other obligations by mortgage or pledge of all or any of its property, franchises and income;

(h) 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 loaned or invested;

(i) To conduct its business, carry on its operations and exercise the powers granted by this chapter, within or without Samish Indian Country;

(j) To elect or appoint officers and agents of the corporation, and define their duties and fix their compensation;

(k) To make and alter bylaws not inconsistent with its articles of incorporation or with the laws of the Tribe for the administration and regulation of the affairs of the corporation;

(l) To make donations for the public welfare or for charitable, scientific or educational purposes;

(m) To transact any lawful business which the board of directors shall find will be in aid of or consistent with governmental policy;

(n) To pay pensions and establish pension plans, pension trusts, profit sharing plans, stock bonus plans, stock option plans and other incentive plans for any or all of its directors, officers and employees;

(o) To be a promoter, partner, member, associate or manager of any partnership, joint venture, trust or other enterprise;

(p) To establish committees of the board of directors, elect or appoint persons to the committees and define their duties and fix their compensation; and

(q) To have and exercise all powers necessary or convenient to effect its purpose. [Res. 2020-04-005 § 2, 2020.]