Florida § 617.0302 - Corporate powers.

§ 617.0302. Corporate powers.

Every nonprofit corporation organized under this chapter, unless otherwise provided in its articles of incorporation or bylaws, shall have power to: (1) Sue and be sued and appear and defend in all actions and proceedings in its corporate name to the same extent as a natural person. (2) Adopt, use, and alter a corporate seal. However, such seal must always contain the words “corporation not for profit” or “nonprofit corporation.” (3) Elect or appoint such officers and agents as its affairs shall require and allow them reasonable compensation. (4) Adopt, change, amend, and repeal bylaws, not inconsistent with law or its articles of incorporation, for the administration of the affairs of the corporation and the exercise of its corporate powers. (5) Increase or decrease the number of its directors, subject to any minimum number of directors required under s. 617.0803. (6) Make contracts and guaranties, incur liabilities, borrow money at such rates of interest as the corporation may determine, issue its notes, bonds, and other obligations, and secure its obligations by mortgage and pledge of all or any of its property, franchises, or income. (7) Conduct its affairs, carry on its operations, and have offices and exercise the powers granted by this chapter in any state, territory, district, or possession of the United States or any foreign country. (8) Purchase, take, receive, lease, take by gift, devise, or bequest, or otherwise acquire, own, hold, improve, use, or otherwise deal in and with real or personal property, or any interest therein, wherever situated. (9) Acquire, enjoy, utilize, and dispose of patents, copyrights, and trademarks and any licenses and other rights or interests thereunder or therein. (10) Sell, convey, mortgage, pledge, lease, exchange, transfer, or otherwise dispose of all or any part of its property and assets. (11) Purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of and otherwise use and deal in and with, shares and other interests in, or obligations of, other entities, or individuals, or direct or indirect obligations of the United States, or of any other government, state, territory, governmental district, municipality, or of any instrumentality thereof. (12) Lend money for its corporate purposes, invest and reinvest its funds, and take and hold real and personal property as security for the payment of funds loaned or invested except as prohibited by s. 617.0833. (13) Make donations for the public welfare or for religious, charitable, scientific, literary, educational, or other similar purposes. (14) Have and exercise all powers necessary or convenient to effect any or all of the purposes for which the corporation is organized. (15) Merge with other corporations or other eligible entities, both for profit and nonprofit, domestic and foreign, in accordance with the merger provisions of this chapter. (16) Be a promoter, incorporator, partner, member, associate, or manager of any corporation, joint venture, or other entity.