Article III

Corporate Records: Authority to Act

 

Section 1.   Records.   WCOA shall maintain at its principal place of business accurate and complete records of its activities and policies, including a record of its members and minutes of the proceedings of its members, Board of Directors and committee meetings.

Section 2.   Inspection.   All records required by applicable laws or regulations to be maintained by the corporation shall be open for inspection by the membership at all reasonable times.

Section 3.   Seal.   The corporation shall own a corporate seal which shall be circular in form and have inscribed thereon its name and the date and state of its incorporation.

Section 4.   Contracts.   The Board of Directors may by resolution authorize any officer or agent to enter into any contract or execute and deliver any instrument in the name of or on behalf of the corporation, and such authority may be general or confined to specific instances; but absent the grant of such authority no individual, other than the President, shall have the power to bind the corporation under any contract, pledge its credit or render it liable for any purpose or in any amount.

Section 5.   Payments.   All checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the corporation shall be signed or endorsed by such person or persons in such manner as shall be determined by resolution of the Board of Directors.