Sec 11-1407. Corporate powers, immunities and limitations

A nonprofit corporation that is organized as provided by this article and that enters into an operating agreement with a sponsoring county:

1. Is considered to:

(a) Exercise its powers for the benefit of the people, to improve their health and welfare and to increase their prosperity.

(b) Engage in a purpose that is essential to public health care.

(c) Have all powers of a nonprofit corporation under title 10.

2. Is entitled to the exemptions and immunities provided by law to similar corporations that are organized for similar purposes including exemptions from taxation of its property and bonds.

3. Possesses and may exercise those powers that are delegated to the corporation by the board of supervisors and that are necessary to satisfy the requirements of section 103 of the internal revenue code as stated in the terms, conditions, restrictions and agreements of the operating agreement. These powers are in addition to the powers that are granted to nonprofit corporations by title 10.