The corporations created in Sections 9-14A-4 and 9-14A-5 shall each have the following powers:
(a) To have succession by its corporate name without time limit.(b) To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties.(c) To have and to use a corporate seal and to alter the same at pleasure.(d) To receive, take and hold by sale, gift, lease, devise or otherwise, real and personal estate of every description, and to manage the same.(e) To exercise the right of eminent domain as freely and completely as, and in the same manner as, the state is empowered to exercise such right.(f) To sell and issue for the state bonds and refunding bonds as provided in this chapter.(g) To appoint and employ such attorneys, accountants, financial advisors, underwriters, trustees, depositories, registrars and other advisors, agents and independent contractors as the business of the corporation may require.Ala. Code § 9-14A-6 (1975)
Act 2000-708, p. 1487, § 6.