Reaffirms that artificial persons created under state law possess only those powers that are necessary or convenient to carry out lawful business and charitable or organizational purposes, and that those powers do not include the power to spend money or contribute anything of value to influence elections or ballot measures. Revokes all prior grants of corporate and entity powers and regrants only those powers that the State determines to be necessary or convenient to conduct lawful business under the constitution and laws of this State.

Statutes affected:
SB2471: 414-3, 414-41, 414-42, 414-44, 414D-14, 414D-51, 414D-52, 414D-54, 425E-105, 428-101, 428-111, 429-1