Article 7 - Contracts, Checks, Deposits and Funds
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Section 1
Section 2
Section 3
Section 4
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Section 1. CONTRACTS. The Board of Directors may authorize any officer or officers, agent or agents of the corporation in addition to the officers so authorized by these By-Laws, to enter into any contract or execute and deliver any instrument, in the name of and on behalf of the corporation and such authority may be general or confined to specific instances.
Section 2. CHECKS, DRAFTS ETC. All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the corporation shall be signed by such officer or officers, agent or agents of the corporation, and in such manner as shall from time to time be approved by resolution of the Board of Directors. In the absence of such determination by the Board of Directors, such instruments shall be signed by the Treasurer. No distribution of funds in excess of one thousand dollars ($1000) will be made without prior approval of the Board of Directors.
Section 3. DEPOSITS. All funds of the corporation shall be deposited from time to time to the credit of the corporation in such banks, trust companies or other depositories as the Board of Directors may direct.
Section 4. GIFTS. The Board of Directors may accept, on behalf of the corporation, any gift, bequest or devise for the general purposes or for any special purpose of the corporation.