Powers of association.

An association shall have the capacity to act possessed by individuals and the authority to do anything required or permitted by this chapter. In addition, an association has the power to: Continue as a corporation for the time specified in its articles; Have a corporate seal and to alter the same at pleasure; Sue and be sued in its corporate name; Make bylaws for the government and regulation of its affairs; Acquire, own, hold, sell, lease, pledge, mortgage, or otherwise dispose of any property incident to its purposes and activities and affairs; Own and hold: Membership in, and share capital, of other associations and any other corporations; Any types of bonds or other obligations; and While the owner of the items set forth in subparagraph (A) of this paragraph, to exercise all the rights of ownership; Borrow money, contract debts, and make contracts, including agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, and other nonprofit groups; Conduct its affairs within or without the District; Exercise, in addition, any power granted to ordinary business corporations, except those powers inconsistent with this chapter; and Exercise all powers not inconsistent with this chapter which may be necessary, convenient, or expedient for the accomplishment of its purposes.