Bylaws of Diversity, Inc.
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Article VIII - Financial Affairs
Section 8.01 Contracts.
(a) No member of the Corporation shall be authorized to make any contracts for or on behalf of the Corporation; nor shall any member be authorized to obligate the Corporation to perform under any contract or to pay any sum of money.
(b) All written contracts shall require the approval of the Board of Directors and shall be executed by the President, and in her/his absence, the Vice-President, and attested by the Secretary.
Section 8.02 Checks.
The treasurer can individually sign checks for regularly occurring expenses pre-authorized by the Board. This can include, but is not limited to, rent or mortgage payments, utility payments, and insurance payments. The treasurer can also individually sign checks for miscellaneous expenses pre-authorized by the Executive Committee or by the Board. The Executive Committee must review expenses incurred by individuals or other committees without prior authorization prior to check issuance.. If the Executive Committee authorizes reimbursement, the treasurer can individually sign a check to reimburse the party.
Section 8.03 Funds.
All funds of the Corporation shall be deposited in the name of the Corporation in such banks, trust companies or other depositories as the Board of Directors may select. All funds of the Corporation shall be deposited in such accounts in a timely fashion.
Section 8.04 Gifts.
The Board may accept on behalf of the Corporation any contribution, gift, bequest or device for any purpose of the Corporation.
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