An association shall have the capacity to act possessed by individuals and the authority to do anything required or permitted by this chapter. In addition, an association has the power to: Continue as a corporation for the time specified in its articles; Have a corporate seal and to alter the same at pleasure; Sue and be sued in its corporate name; Make bylaws for the government and regulation of its affairs; Acquire, own, hold, sell, lease, pledge, mortgage, or otherwise dispose of any property incident to its purposes and activities and affairs; Own and hold: Membership in, and share capital, of other associations and any other corporations; Any types of bonds or other obligations; and While the owner of the items set forth in subparagraph (A) of this paragraph, to exercise all the rights of ownership; Borrow money, contract debts, and make contracts, including agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, and other nonprofit groups; Conduct its affairs within or without the District; Exercise, in addition, any power granted to ordinary business corporations, except those powers inconsistent with this chapter; and Exercise all powers not inconsistent with this chapter which may be necessary, convenient, or expedient for the accomplishment of its purposes.
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