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Article IX. Contracts, Checks, Deposits and Gifts

Section 1. Contracts

The Board of Directors may authorize any officer or agent 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 the corporation and on its behalf.

Section 2. Checks, Drafts, and Orders

All checks, drafts, and orders for payment of money, notes or other evidences of indebtedness issued in the name of the corporation shall be signed by such officers or agents of the corporation and in such manner as shall from time to time be determined by resolution of the Board of Directors. In the absence of such determination by the Board, such instruments shall be signed by the Chair and countersigned by the Treasurer.

Section 3. Deposits

All funds of the corporation shall be deposited from time to time to the credit of the corporation in such FDIC banks, savings and loans, or other depositories that have a branch located within the Commonwealth as the Board may select.

Section 4. Gifts

The Board of Directors may accept on behalf of the corporation any contribution, gift, bequest, devise, or grant for any purpose of the corporation.

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Last modified: 3/6/2013
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