Every corporation organized under this chapter has power to:
(1) have perpetual succession unless a limited period of duration is stated in the articles of in-corporation;
(2) sue and be sued by its corporate name;
(3) have a common seal, which it may alter at its pleasure;
(4) render the interests of the stockholders transferable;
(5) exempt the private property of its members from liability for corporate debts, except as otherwise declared;
(6) make contracts and to acquire and transfer property as provided in 30.0131, possessing the same powers in such respects as natural persons:
(7) establish bylaws and make all rules and regulations necessary for the management of its affairs.History: 1962, PL 7-20.
Even implied tenancy is precluded when a corporation is involved. Kaleopa v. Nia-Maria & Co., Inc., ASR (1978).