Board/Bylaws: Difference between revisions
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==Special Corporate Acts== | ==Special Corporate Acts== | ||
===Execution of documents that | ===Execution of documents that dispose assets of the Foundation=== | ||
All contracts, deeds, documents, and instruments that acquire, transfer, exchange, sell, or dispose of any assets of the Foundation must be executed by the President to bind the Foundation. If the President is incapacitated or otherwise unavailable, then the designated Vice-President may execute the respective documents to bind the Foundation. This Section does not apply to any checks, money orders, notes, or other financial instruments for direct payment of corporate funds which are subject to the below section of these Bylaws. | All contracts, deeds, documents, and instruments that acquire, transfer, exchange, sell, or dispose of any assets of the Foundation must be executed by the President to bind the Foundation. If the President is incapacitated or otherwise unavailable, then the designated Vice-President may execute the respective documents to bind the Foundation. This Section does not apply to any checks, money orders, notes, or other financial instruments for direct payment of corporate funds which are subject to the below section of these Bylaws. | ||