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.]As added by P.L.2-2008, SEC.5.
Indiana Legal Code