General powers of corporationIn addition to the powers granted elsewhere in this chapter, a China Trade Act corporation—
Shall have the right of succession during the existence of the corporation;
Shall have a corporate seal and may, with the approval of the Secretary, alter it;
Shall have the right to transact the business authorized by its articles of incorporation and such further business as is properly connected therewith or necessary and incidental thereto;
May make contracts and incur liabilities;
May acquire and hold real or personal property, necessary to effect the purpose for which it is formed, and dispose of such property when no longer needed for such purposes;
May borrow money and issue its notes, coupon or registered bonds, or other evidences of debt, and secure their payment by a mortgage of its property; and
May establish such branch offices at such places in China as it deems advisable.