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Bylaws Article VII

Contracts, Checks, Deposits, and Funds

Section 1. Contracts. The Board of Directors may authorize any officer or officers of the Association in addition to the President, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Association. Such authority must be in writing and may be general or confined to specific instances. 

Section 2. Payments. All payment of money or other evidence of indebtedness shall be issued in the name of the Association in such a manner as shall from time to time be determined by written resolution of the Board of Directors. In the absence of such determination by the Board of Directors, such instrument shall be signed by the Treasurer and countersigned by the President of the Association. 

Section 3. Deposits. All funds of the Association shall be deposited from time to time to the credit of the Association in such banks, trust companies or other depositories as the Board of Directors may select. 

Section 4. Gifts. The Board of Directors may accept on behalf of the Association any contribution, gift, bequest, or device for the general purposes or for any special purpose of the Association.