N.Y. Banking Law § 2001: General corporate powers

§ 2001. General corporate powers. 1. Every corporation shall have, in

addition to all other powers granted by this chapter or any other

statute of this state, the following powers:

(a) To sue and be sued in all courts and to participate in actions and

proceedings, whether judicial, administrative, arbitrative or otherwise,

in like cases as natural persons.

(b) To have a corporate seal, and to alter such seal at pleasure, and

to use it by causing it or a facsimile to be affixed or impressed or

reproduced in any other manner.

(c) To adopt, amend or repeal by-laws, including emergency by-laws

made pursuant to subdivision sixteen of section twelve of the state

emergency defense act, relating to the business of the corporation, the

conduct of its affairs, its rights or powers or the rights or powers of

its stockholders, directors or officers.

(d) To make donations, irrespective of corporate benefit, for the

public welfare or for community fund, hospital, charitable, educational,

scientific, civic or similar purposes, and in time of war or other

national emergency in aid thereof.

(e) To pay pensions, establish and carry out pension, profit-sharing,

savings, thrift and other retirement, incentive and benefit plans,

trusts and provisions for any or all of its directors, officers and

employees.

(f) To have perpetual existence.

2. Every corporation, subject to any limitations or other specific

provisions contained in this chapter or any other statute of this state

or its organization certificate, shall have such of the following powers

as shall be appropriate in conducting the business of the corporation:

(a) To purchase, receive, take by grant, gift, devise, bequest or

otherwise, lease, or otherwise acquire, own, hold, improve, employ, use

and otherwise deal in and with, real or personal property, or any

interest therein, wherever situated.

(b) To sell, convey, lease, exchange, transfer or otherwise dispose

of, all or any of its property or any interest therein, wherever

situated.

(c) To make contracts, give guarantees and incur liabilities.

(d) To do business, carry on its operations, and have offices and

exercise the powers granted by this chapter in any jurisdiction within

or without the United States.

(e) To elect or appoint officers, employees and other agents of the

corporation, define their duties, fix their compensation and the

compensation of directors, and to indemnify corporate personnel.

(f) To be a promoter, partner, member, associate or manager of other

business enterprises or ventures, or to the extent permitted in any

other jurisdiction to be an incorporator of other corporations of any

type or kind; provided, however, that nothing contained in this

paragraph shall authorize a banking organization to engage in any

activity not otherwise authorized by the laws of New York or by

regulations of the superintendent.

(g) To have and exercise all other powers necessary or appropriate in

conducting the business of the corporation.