2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 1 - General Corporation Law
Subchapter II - Powers
§ 32. Specific powers

(1) have succession, by its corporate name, for the time stated in its articles of incorporation, and when no period is stated, it shall be perpetual;

(2) sue and be sued by its corporate name the same as a natural person in any court having jurisdiction;

(3) have a corporate seal, which may be altered at pleasure, and to use the same by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise;

(4) hold, purchase, convey, sell and mortgage real and personal property subject to such limitations as shall be prescribed by law; including, with respect to the power to hold real and personal property, the power to take the same by devise or bequest;

(5) appoint such officers, agents and servants as the business of the corporation requires and to define their powers, prescribe their duties and fix their compensation;

(6) make bylaws not inconsistent with the laws of the United States Virgin Islands, fixing and altering the number of its directors for the management of its property, the regulation and government of its affairs and for the certification and transfer of its stock with penalties for the breach thereof of not more than $20;

(7) wind up and dissolve itself, or to be wound up and dissolved in the manner provided for in this chapter;

(8) conduct business within and without the United States Virgin Islands, and have one or more offices without the United States Virgin Islands, and hold, purchase, mortgage and convey real and personal property both within and without the United States Virgin Islands;

(9) make donations for the public welfare or for charitable, scientific or educational purposes, but only out of surplus; and

(10) indemnify any and all of its directors or officers or former directors or officers or any person who may have served at its request as a director or officer of another corporation of which it owns shares of capital stock or of which it is a creditor against expenses actually and necessarily incurred by them in connection with the defense of any action, suit or proceeding in which they, or any of them, are made parties, or a party, by reason of being or having been directors or officers or a director or officer of the corporation, or of such other corporation, except in relation to matters described in subparagraph (4)(A) or (B) of section 2(b) of this title or as to which any such director or officer or former director or officer or former director or officer or person shall be adjudged in such action, suit or proceeding to be liable for negligence or misconduct in the performance of duty. Such indemnification shall not be deemed exclusive of any other rights to which those indemnified may be entitled, under any bylaw, agreement, vote of stockholders, or otherwise.