Effect of title on powers, privileges, duties and restrictions of corporations, companies, associations and natural persons.
1. The powers, privileges, duties and restrictions conferred and imposed upon any corporation, company, association or natural person, existing and doing business under the laws of this State, are hereby abridged, enlarged or modified, as each particular case may require, to conform to the provisions of this title, notwithstanding anything to the contrary in its respective articles of incorporation, articles of organization or charter.
2. As used in this section, “doing business under the laws of this State” does not include the lending of money to a person who is not a resident of this State, whether or not the bank which extended the credit or serviced the loan is located in this State.
Last modified: February 26, 2006