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By-Laws – Article VI
Loans, Checks, Drafts, Deposits, etc.
Section 1. Loans and Advances. All loans and advances made to the Association shall require the approval of the Board.
Section 2. Bank Accounts. All funds of the Association not otherwise employed shall be deposited from time to time to the credit of the Association in such banks, trust companies or other depositories as the Board may select or as may be selected by any officer or agent of the Association to whom such power may, from time to time, be delegated by the Board; and, for the purpose of such deposit, any officer, agent or employee of the Association to whom such power may be delegated by the Board may endorse, assign and deliver checks, drafts and other orders for the payment of moneys which are payable to the order of the Association.
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