They may make contracts necessary and proper for the transaction of their authorized business, and no other. They shall be capable of binding themselves as sureties or guarantors for others, to the extent that such suretyship or guarantee may be necessary and proper for the transaction of their authorized business or serves to further their corporate purposes.
Source. GS 133:5. GL 147:5. PS 148:7. PL 226:6. RL 275:6. RSA 295:6. 1988, 13:1, eff. May 14, 1988.