TITLE 30

CORPORATIONS

CHAPTER 29

GENERAL BUSINESS CORPORATIONS

PART 3

PURPOSES AND POWERS

30-29-301.  PURPOSES. (a) Every corporation incorporated under this chapter has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the articles of incorporation.

(b)  A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under this chapter only if permitted by, and subject to all limitations of, the other statute.

History:

[30-29-301, added 2015, ch. 243, sec. 58, p. 907; am. 2019, ch. 90, sec. 23, p. 242.]