Illinois Code § 40 ILCS 5/15-161

To contract and act in its corporate name.
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To be a public corporation of this State with power to enter into
contracts, accept and make transfers of property, real and personal; to
conduct in its corporate name all court proceedings which the board deems
necessary to protect the interests of the State and of the intended
beneficiaries under this Article; and generally to accomplish the objects
and purposes thereof.

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