(A) The authority has the power to establish guidelines and regulations and make any contract (including without limitation any designated investor contract), execute any document, perform any act, or enter into any financial or other transaction necessary to implement this chapter.
(B) In furtherance of subsection (A) above, the authority, or the Department of Commerce on its behalf, as the case may be, may employ any person as may be required for:
(1) proper implementation of this chapter;
(2) the management of its assets; or
(3) the performance of any function authorized or required by this chapter or necessary for the accomplishment of any function.
(C) The provisions of Title 11, Chapter 35 do not apply to any transaction necessary to implement this chapter.
HISTORY: 2004 Act No. 187, Section 5; 2005 Act No. 125, Section 1.
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