The corporation shall have all the rights, privileges, powers, and franchises necessary to the promotion of or the end of its creation and shall be charged with all corresponding duties, liabilities, and responsibilities. The headquarters of Troy University shall be in the City of Troy. The corporation may purchase, hold, lease, sell, convey, or in any other manner not inconsistent with the object or terms of the grant or grants under which it holds dispose of any property, or any interest in any property, real or personal, or any estate or interest therein, from any source, at any time and upon any terms, as it may deem in the best interest of the university. The corporation may also borrow money and incur other obligations at any time and under any terms it may deem in the best interest of the university.
Structure Code of Alabama
Section 16-56-1 - Body Corporate; Rights, Duties, Property, Etc. of Troy University.
Section 16-56-2 - Rights, Privileges, Responsibilities, etc., of Corporation.
Section 16-56-3 - Board of Trustees - Membership; Appointment; Terms.
Section 16-56-4 - Board of Trustees - Meetings.
Section 16-56-5 - Board of Trustees - Quorum; Meetings of Standing Committees.
Section 16-56-6 - Board of Trustees - Chancellor; Powers as to Organization and Administration.
Section 16-56-7 - Board of Trustees - Transfer of Jurisdiction, etc., to Board of Trustees.
Section 16-56-8 - Board of Trustees - Vacancy in Office.
Section 16-56-9 - Board of Trustees - Payment of Expenses.
Section 16-56-10 - Board of Trustees - Reports to Legislature.