Section 1 - Contracts
Except as otherwise provided in these bylaws, the Board of Directors may authorize any officer or officers, agent or agents, employee or employees of the Cooperative to enter into any contract or execute and deliver any instrument in the name and on behalf of the Cooperative, and such authority may be general or confined to specific instances.
Section 2 - Checks, Drafts, etc.
All checks, drafts, or other orders for the payment of money, and all notes, bonds, or other evidence of indebtedness issued in the name of the Cooperative shall be signed and/or counter-signed by such officer or officers, agent or agents, employee or employees of the Cooperative and in such manner as shall from time to time be determined by resolution of the Board of Directors.
Section 3 - Deposits
All funds except petty cash shall be deposited from time to time to the credit of the Cooperative in such bank or banks as the Board of Directors may select.
Section 4 - Change in Rates
Written notice shall be given to any holder of a mortgage of the Cooperative, prior to the date upon which any change in the electric energy rate becomes effective.