58-29A-60. General corporate powers of association.
114 words·~1 min read·
/sd/title-58/chapter-58-29/58-29a-60·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The association may:
(1)Employ or retain such persons as are necessary to handle claims and perform other duties of the association;
(2)Borrow funds necessary to effect the purposes of this chapter in accord with the plan of operation;
(3)Sue or be sued. The power to sue includes the power and right to intervene as a party before any court in this state that has jurisdiction over an insolvent insurer as defined by this chapter;
(4)Negotiate and become a party to such contracts as are necessary to carry out the purpose of this chapter;
(5)Perform such other acts as are necessary or proper to effectuate the purpose of this chapter.