Except as specifically modified in its authorizing statute, each independent corporation shall have the power to:
(1) exist as a:
(a) public corporation; or
(b) quasi-public corporation;
(2) perform its stated public purpose;
(3) sue and be sued in its own name;
(4) retain and be represented by legal counsel independent of the attorney general;
(5) create foundations or subsidiaries;
(6) act in accordance with all other powers granted in its authorizing statute and by duly issued license or franchise;
(7) act in all ways as a nonprofit corporation established under Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, that do not conflict with:
(a) this title;
(b) the authorizing statute of the independent corporation; or
(c) statutes and regulations to which the independent corporation is subject.