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(a) Unless the articles of incorporation provide otherwise, every corporation, whether for­profit or nonprofit, that has been formed pursuant to provisions of this Code, has perpetual duration and succession in its corporate name; and possesses the same powers as an individual to do all things necessary to legally carry on its business, including:

(1) To sue and be sued in its corporate name;

(2) To create and use a corporate seal;

(3) To make and amend bylaws for managing and regulating corporate business affairs in a manner not inconsistent with its articles of incorporation or laws of the Yurok Tribe;

(4) To purchase, receive, lease, or acquire by gift, devise, bequest or otherwise real or personal property, wherever located;

(5) To own, improve, use and engage in any transactions involving real or personal property, or any legal or equitable interest, in real or personal property, wherever located;

(6) To sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of all, or any part of, its real or personal property;

(7) To purchase, receive, subscribe for, or otherwise acquire; own, hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of; and engage in transactions with; holders of other interests in, or obligations of, any other entity created for a lawful purpose;

(8) To make contracts and guarantees, incur liabilities, borrow money, issue notes, debentures, bonds, and other obligations that may be convertible into, or include the option to purchase, other securities of the corporation, and to secure any of its obligations by mortgage or pledge on any of its property, franchises or income;

(9) To invest and reinvest corporate funds, and to receive and hold real and personal property as security for repayment;

(10) To serve as a promoter, partner, member, associate, or manager of any partnership, joint venture, trust or other entity;

(11) To conduct corporate business, structure and restructure corporate operations, locate offices, and exercise the powers granted by this Code, whether on or off the Reservation;

(12) To elect directors and appoint officers, employees, and agents of the corporation; and define their duties, fix their compensation, if any, and lend money and credit so long as funds so lent are properly accounted for and used in furtherance of corporate business and for the benefit of the corporation exclusively;

(13) To make donations for the public welfare, or for charitable, scientific, or educational purposes; provided, that such donations are properly and routinely documented and maintained in accordance with generally accepted accounting principles;

(14) To transact any lawful business in furtherance of government policy;

(15) To make payments or donations, or do any other act, not inconsistent with Tribal law, and not in violation of state or federal law, that furthers the business affairs of the corporation;

(16) To wind up corporate business activities and dissolve the corporation. [Ord. 18 Part I § 4, adopted, 10/7/2008.]