New Jersey § 14a:3-1

§ 14a:3-1.

(1) Each corporation, subject to any limitations provided in this act or any other

statute of this State, or in its certificate of incorporation, shall have power (a) to have perpetual duration unless a limited period is stated in its certificate

of incorporation; (b) to sue and be sued, complain and defend and participate as a party or otherwise

in any judicial, administrative, arbitrative or other proceeding, in its corporate

name; (c) to have a corporate seal which may be altered at pleasure, and to use the same

by causing it, or a facsimile thereof, to be impressed or affixed or in any other

manner reproduced; (d) to purchase, lease or otherwise acquire, own, hold, improve, use and otherwise

deal in and with, real or personal property, or any interest therein, wherever situated; (e) to sell, convey, mortgage, create a security interest in, lease, exchange, transfer

and otherwise dispose of all or any part of its property and assets; (f) to purchase, subscribe for, or otherwise acquire, own, hold, vote, use, employ,

sell, exchange, mortgage, lend, create a security interest in, or otherwise dispose

of, and otherwise use and deal in and with, shares or other interests in, or obligations

of, other domestic or foreign corporations, associations, partnerships or individuals,

or direct or indirect obligations of any domestic or foreign government or instrumentality

thereof; (g) to make contracts and guarantees and incur liabilities, borrow money, issue its

bonds, and secure any of its obligations by mortgage of or creation of a security

interest in all or any of its property, franchises and income; (h) to lend money, invest and reinvest its funds, and take and hold real and personal

property as security for the payment of funds so loaned or invested; (i) to conduct its business, carry on its operations, and have offices and exercise

the powers granted by this act anywhere in the universe; (j) to elect or appoint officers, employees and agents of the corporation, and define

their duties and fix their compensation; (k) to make and alter by-laws for the administration and regulation of the affairs

of the corporation; ( l ) to pay pensions and establish pension, profit-sharing, stock option, stock purchase,

incentive and deferred compensation plans, and plans of similar nature for, and to

furnish medical services, life, sickness, accident, disability or unemployment insurance

and benefits, education, housing, social and recreational services and other similar

aids and services to, any or all of its directors, officers, employees, and agents,

their families, dependents or beneficiaries; (m) to participate with others in any corporation, partnership, limited partnership,

joint venture, or other association of any kind, or in any transaction, undertaking

or arrangement which the participating corporation would have power to conduct by

itself, whether or not such participation involves sharing or delegation of control

with or to others; (n) at the request of the United States government or of any of its agencies, to transact

any lawful business in time of war or other national emergency, notwithstanding the

purpose or purposes set forth in its certificate of incorporation; ( o ) to provide for its benefit life insurance and other insurance with respect to the

services of any or all of its directors, officers, employees, and agents, or on the

life of any shareholder for the purpose of acquiring at his death shares of its stock

owned by such shareholder; (p) to have and exercise all other powers necessary or convenient to effect any or

all of the purposes for which the corporation is organized ; (q) to renounce, in its certificate of incorporation or by action of its board of

directors, any interest or expectancy of the corporation in, or in being offered an

opportunity to participate in, specified business opportunities or specified classes

or categories of business opportunities that are presented to the corporation or one

or more of its officers, directors or shareholders . (2) It shall not be necessary to set forth in the certificate of incorporation any

corporate powers enumerated in this act.