Sec. 3. A corporation incorporated under this chapter: (1) has all the rights, powers, and privileges given to corporations by common law; (2) may sue and be sued; (3) may borrow and secure payment of money by: (A) notes and mortgage; and (B) bonds or deeds of trust upon the corporation's personal and real property; and (4) may rent, lease, purchase, hold, sell, and convey real and personal property necessary and proper: (A) to erect buildings; and (B) for other purposes of a corporation organized under section 1(a) of this chapter. [Pre-2008 Recodification Citation: 15-1-2-3.]
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