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Section 407 - Act not restriction on powers of corporation -- Construed as alternative -- Bonds, notes, obligations issued need not comply with other laws.

UT Code § 63H-8-407 (2019) (N/A)
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(1) (a) This chapter and its contents are not a restriction or limitation upon other powers that the corporation has under other laws of the state. (b) This chapter is cumulative to the powers referenced in Subsection (1)(a).

(a) This chapter and its contents are not a restriction or limitation upon other powers that the corporation has under other laws of the state.

(b) This chapter is cumulative to the powers referenced in Subsection (1)(a).

(2) This chapter provides a complete, additional, and alternative method for doing the things authorized in this chapter and is supplemental and additional to powers conferred by other laws.

(3) The issuance of bonds, notes, and other obligations under this chapter need not comply with the requirements of any other state law applicable to the issuance of bonds, notes, and other obligations.

(4) Proceedings, notice, or approval are not required for the issuance of bonds, notes, and other obligations or an instrument as security for them, except as provided in this chapter.

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