(a) Any corporations created under and by virtue of this article shall exist and shall have and enjoy succession under its corporate name and may, under such name:

(1) Make and enter into contracts;

(2) Sue and be sued;

(3) Purchase and hold such real or personal property as may be required for the purposes of the corporation within the scope of its business and sell, alienate, mortgage, pledge, convey, or otherwise dispose of the same, with all rights and privileges therewith connected; and

(4) Make and establish such bylaws, rules, and regulations for its government as may be necessary.

(b) Such corporation shall also have power:

(1) To have and use a corporate seal, and to alter the same at pleasure;

(2) To appoint such officers or agents as may be necessary for the proper management of the affairs of such corporation; and

(3) To erect and maintain telegraph lines in and throughout this state or elsewhere in the United States, with all necessary stations, offices, apparatus, improvements, and machinery, and to employ the same with any new inventions which may from time to time be acquired, in the rapid transmission, for remuneration and profit, of information, messages, and intelligence to and from the various places and stations on the telegraph line of such corporation.