Section 1: Contracts.

 

The Board of Directors by majority vote may authorize any 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.

 

Section 2: Checks, Drafts, or other orders for the payment of money, notes or other evidences of indebtedness.

 

All checks, drafts or other orders for the 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 a vice 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 banks, trust companies or other depositories as the Board of Directors may select.

 

Section 4: Gifts.

 

The Board of Directors or the president 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.