10.__Employees; contracts and liabilities.__Hire and compensate employees, make contracts for goods or services and incur liabilities with respect to the same with any entity for any of the purposes described by those contracts and authorized by this chapter;

11.__Debt.__Borrow money for any of the purposes authorized in this chapter, incur debt, which includes the issuance of bonds, debt, notes or other evidences of indebtedness, whether secured or unsecured, and secure the same by mortgage, pledge, deed of trust or other lien on the institute's property, rights and privileges of every kind and nature or any part of or interest in any of them;

12.__Seal.__Have and use a corporate seal;

13.__Pension plans; insurance.__Establish and carry out pension plans, profit sharing plans and other retirement, incentive or insurance plans for any of its employees; and

14.__Other powers.__Act or do anything necessary or useful for carrying out any of its powers, duties or purposes.

§15305.__Limitation of powers

The institute may not enter into contracts, obligations or commitments of any kind on behalf of the State or any of its agencies, nor does it have the power of eminent domain or any other power not provided to business corporations generally.__ Bonds, notes and other evidences of indebtedness of the institute may not in any way be a debt or liability of the State or constitute a pledge of the faith and credit of the State.__The institute may not expend more than 7% of funds appropriated per biennium by the State for management and related operating costs of the institute.

§15306.__Liability of officers, directors and employees

All officers, directors, employees and other agents of the institute entrusted with the custody of the securities of the institute or authorized to disburse the funds of the institute must be bonded either by a blanket bond or by individual bonds with a minimum limitation of $100,000 coverage for each person covered by the bond or bonds, conditioned upon the faithful performance of their duties.__The premiums for the bond or bonds must be paid out of the assets of the institute.