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Signing Authorities of the Association Policy

Reference: By-law 1401 (3)

Effective Date

Revised Date

 

1.0 DIRECTORS WITH AUTHORITY TO SIGN CHEQUES

The Board of Directors, at its first meeting after election to office shall appoint by resolution four officers or directors, including the Secretary-Treasurer, to sign cheques and other banking documents of the Association. The signatures of any two signing officers shall be necessary on every document.

 

2.0 CORPORATE SEAL

The Chief Executive Officer shall have the custody and control of the Corporate Seal. It shall not be affixed to any document except by authority of a resolution of the Board of Directors and by such officer or officers of the Association as may be prescribed in and by such resolution and such officer or officers shall sign every document to which the seal is affixed in his/her or their presence.

 

3.0 AUTHORITY TO COMMIT THE ASSOCIATION

Authority to commit the Association to expenditures for items not provided for in the budget may be exercised by:

3.1 The Executive Committee – up to $30,000

3.2 The Board of Directors – over $30,000

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