The foregoing right of indemnification shall be in addition to, and not exclusive of, all other rights to act which such director, officer, employee or member may be entitled.

The Board of Directors may cause the Association to purchase insurance for the benefit of officers, directors, employees and members, in furtherance of, and to secure, the foregoing indemnification.

Article X: Contracts, Checks, Deposits and Funds

A. Contracts.

The Board of Directors may authorize an officer or officers, agent, or agents of the Association in addition to the officers so authorized by these Bylaws, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Association and such authority may be general or confined to specific instances. Before execution of a proposed contract, it must be approved by the Legal Committee, or by a member of that committee designated by its chair for that purpose.

B. Checks.

All checks, drafts, or orders for payment of money, notes, or other evidences of indebtedness issued in the name of the Association, shall be signed by such officer or officers, agent, or agents of the Association 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 of Directors, such instruments shall be signed by the Treasurer or an Assistant Treasurer and countersigned by the President or Vice President of the Association.

C. 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.

D. Funds.

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

 

ALERT

TRASH DELAYED TILL SATURDAY DUE TO HOLIDAY.

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