§ 7-6-4 - Purposes.
SECTION 7-6-4
§ 7-6-4 Purposes. – Corporations may be organized under this chapter for any lawful purpose orpurposes subject to the condition that no part of the net income or profit ofany corporation will be distributable to its members, directors, or officers.Subject to that condition, the purpose or purposes for which corporations maybe organized under this chapter include, but are not limited to, any one ormore of the following purposes or activities:
(1) Charitable; benevolent; eleemosynary; educational; civic;patriotic; political; religious; social; recreational; fraternal; literary;cultural; athletic; scientific; agricultural; horticultural; animal husbandry;health services; and professional, commercial, industrial, or trade association;
(2) Libraries; and fire engine companies;
(3) Constructing, acquiring, leasing, fostering, encouragingand assisting the physical location, settlement or resettlement of industrial,manufacturing, commercial, or recreational facilities or enterprises within thestate;
(4) Planning, constructing, erecting, maintaining, operating,and managing land, buildings, and improvements in projects undertaken pursuantto chapters 31 – 33 of title 45;
(5) Engaging in municipal projects authorized by thegoverning body of the municipality; and
(6) Providing housing and related facilities and services forelderly persons.