Each corporation shall have and exercise all powers necessary or convenient to effect any or all of the purposes for which the corporation is organized including, without limitation, power:
To have perpetual succession by its corporate name unless a limited period of duration is stated in its articles of incorporation.
To sue and be sued, complain and defend, in its corporate name.
To have a corporate seal which may be altered at will, and to use the same by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced.
To purchase, take, receive, lease, take by gift, devise or bequest, or otherwise acquire, own, hold, improve, use and otherwise deal in and with real or personal property, or any interest therein, wherever situated.
To sell, convey, mortgage, pledge, lease, exchange, transfer and otherwise dispose of all or any part of its property and assets.
To lend money to its employees other than its officers and directors and otherwise assist its employees, officers and directors.
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, whether business or nonprofit, 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.
To make contracts and guarantees, incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds and other obligations and secure any of its obligations by mortgage or pledge of all or any of its property, franchises and income, and make contracts of guaranty and suretyship.
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 lent or invested.
To conduct its affairs, carry on its operations and have offices and exercise the powers granted by Section 79-11-101 et seq. in any state, territory, district or possession of the United States or in any foreign country.
To elect or appoint officers and agents of the corporation, who may be directors or members, and define their duties and fix their compensation.
To make and alter bylaws, not inconsistent with its articles of incorporation or with the laws of this state, for the administration and regulation of the affairs of the corporation.
Unless otherwise provided in the articles of incorporation, to make donations for the public welfare or for charitable, scientific or educational purposes.
To pay pensions and establish pension plans or pension trusts for any or all of its directors, officers and employees.
To cease its corporate activities and surrender its corporate franchise.
To impose dues, assessments, admission and transfer fees upon its members.
To establish conditions for admission to membership, admit members and issue memberships.
To carry on a business.
To do all things necessary or convenient, not inconsistent with law, to further the activities and affairs of the corporation.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 11 - Nonprofit, Nonshare Corporations and Religious Societies
Mississippi Nonprofit Corporation Act
§ 79-11-103. Amendments and repeals
§ 79-11-119. Certified copy of document as conclusive evidence of filing
§ 79-11-125. Secretary granted power to perform duties
§ 79-11-135. Persons who may act as incorporators
§ 79-11-141. Liability for purporting to act for corporation where incorporation has not occurred
§ 79-11-149. Activities for which corporations may be organized
§ 79-11-151. Powers of corporation
§ 79-11-173. Consideration for admission of members to corporation
§ 79-11-175. Corporation not required to have members
§ 79-11-177. Rights and obligations of members
§ 79-11-181. Liability of members for acts, debts, liabilities, or obligations of corporation
§ 79-11-183. Liability of members for dues, assessments or fees
§ 79-11-225. Method of election of directors
§ 79-11-233. Qualifications for directors
§ 79-11-241. Staggering terms of directors
§ 79-11-253. Compensation of directors
§ 79-11-273. Duties of officers
§ 79-11-281. Indemnification of director, officer, employee, or agent
§ 79-11-291. Restrictions on use of membership lists
§ 79-11-295. Authorization to amend articles of incorporation
§ 79-11-297. Amendment of articles of incorporation prior to corporation's acquisition of members
§ 79-11-301. Procedures for making amendments to articles of incorporation
§ 79-11-305. Filing of amendments to articles of incorporation
§ 79-11-311. Amendments to articles of incorporation not to affect legal status of corporation
§ 79-11-313. Adoption of amendments to bylaws where corporation has no members
§ 79-11-323. Filing of articles of merger
§ 79-11-336. Application and distribution of assets of voluntarily dissolving corporation
§ 79-11-347. Administrative dissolution by Secretary of State, grounds for
§ 79-11-381. Service of process, demand or notice on foreign corporation
§ 79-11-393. Rural water companies, special requirements
§ 79-11-395. Application to pre-existing domestic nonprofit, nonshare corporations