Illinois Code § 30

§ 30.

Powers of the board of directors. The board of directors shall have the power to: (1) Secure funding for programs and activities of IGP from federal, State, local, and private sources and from fees charged for services and published materials; solicit, receive, hold, invest, and administer any grant, payment, or gift of funds or property; and make expenditures consistent with the powers granted to it. (2) Make and enter into contracts and other instruments necessary or convenient for the exercise of its powers and functions. (3) Sue and be sued, and appear and defend in all actions and proceedings, in its corporate name to the same extent as a natural person. (4) Adopt, use, and alter a common corporate seal for IGP. (5) Elect or appoint officers and agents as its affairs require and allow them reasonable compensation. (6) Adopt, amend, and repeal bylaws, not inconsistent with the powers granted to it or the articles of incorporation, for the administration of the affairs of IGP and the exercise of its corporate powers. (7) Acquire, enjoy, use, and dispose of patents, copyrights, and trademarks and any licenses, royalties, and other rights or interests thereunder or therein. (8) Do all acts and things necessary or convenient to carry out the powers granted to it. (Source: P.A. 94-388, eff. 7-29-05.)