Section 1. Checks
Checks, drafts or electronic fund transfers of Foundation funds may be signed/approved by the Executive Director, Treasurer or University President. A facsimile may be used in lieu of actual signatures. However, all checks in amounts of $15,000 and greater must bear original signatures or, if facsimile signatures are used, must be initialed by the Executive Director, Treasurer or University President.
Section 2. Execution of Foundation Documents
The Foundation Chair, University President, Executive Director and Treasurer are authorized to execute, in the name of the Foundation, all certificates, contracts, deeds, notes and other documents or legal instruments authorized or issued by the Foundation Board or these Bylaws, or necessary to effectuate the purposes of the Foundation.