Illinois Compiled Statutes 20 ILCS 3948/30 – Powers of the board of directors
Current as of: 2024 | Check for updates
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The board of directors shall have the power to:
(1) Secure funding for programs and activities of IGP
(1) Secure funding for programs and activities of IGP
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from federal, State, local, and private sources and from fees charged for services and published materials; solicit, receive, hold, invest, and administer any grant, payment, or gift of funds or property; and make expenditures consistent with the powers granted to it.
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(2) Make and enter into contracts and other
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instruments necessary or convenient for the exercise of its powers and functions.
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(3) Sue and be sued, and appear and defend in all
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actions and proceedings, in its corporate name to the same extent as a natural person.
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(4) Adopt, use, and alter a common corporate seal for
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IGP.
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(5) Elect or appoint officers and agents as its
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affairs require and allow them reasonable compensation.
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(6) Adopt, amend, and repeal bylaws, not inconsistent
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with the powers granted to it or the articles of incorporation, for the administration of the affairs of IGP and the exercise of its corporate powers.
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(7) Acquire, enjoy, use, and dispose of patents,
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copyrights, and trademarks and any licenses, royalties, and other rights or interests thereunder or therein.
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(8) Do all acts and things necessary or convenient to
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carry out the powers granted to it.
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Terms Used In Illinois Compiled Statutes 20 ILCS 3948/30
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14