Orange County NC Website
Browse       Search
Section 10. Bonds: The Board of Directors may by resolution <br /> any r all officers, agents and employees of the corporation to give <br /> the corporation with sufficent sureties, conditioned on the faithful <br /> of the duties of their respective offices or positions, and to comply <br /> othei conditions as may from time to time be required by the Board of <br /> ARTICLE VI. <br /> 3 i <br /> CONTRACTS, LOADS�, CHECKS AND DEPOSITS <br /> Section 1. Contracts: The Board of Directors may authorize <br /> Officer or officers, agent or agents, to enter into any contract or ei <br /> any instrument on behalf of the corporation, and such authority may b4 <br /> or coufined to specific instances. <br /> Secti= 2. Loans: No loans shall be contracted on behalf of <br /> the corporation and no evidence of indebtedness shall be issued in ite <br /> unlejs authorized by a resolution of the Board of Directors. Such aut <br /> may bye general or confined to specific instances. <br /> Section 3. Checks and Drafts: All checks, drafts, or other <br /> for the payment of money issued in the name of the corporation sha.Ll L <br /> signld 5y such officer or officers, agent or agents, of the corruratio <br /> in such manner as shall from time to time be determined by resolation <br /> the ard of Directors. <br /> 11�0 Section 4. Deposits: All funds of the corporation n-c other <br /> employed shall be deposited from time to time to the credit of the cor <br /> in su6 depositories as the Board of Directors shall direct. <br /> ARTICLE VII. <br /> CERTIFICATES FOR SHARES AND THEIR TRANSFER <br /> Section 1. Certificates for Shares: Certificates for shares <br /> the corporation shall be issued, in such form as the Board of Director: <br /> determine, to every shareholder for the fully paid shares owned by him <br /> certificates shall be signed by the President (Clerk) or any Vice-Pres: <br /> (Assistant Clerk) and the Secretary, Assistant Secretary, Treasurer or <br /> Treasurer. They shall be consecutively numbered or otherwise identifi( <br /> the name and address of the persons to whom they are issued, with the i <br /> of s6res and date of issue, shall be entered on the stock transfer bo( <br /> the e rporation. <br /> Section 2. Transfer of Shares: Transfer of shares shall be r <br /> on the stock transfer books of the corporation only upon surrender of I <br /> certificates for the shares sought to be transferred by the record hol( <br /> therei�f or by his or her duly authbrized agent, transferee or legal rej <br /> All certificates surrendered for transfer shall be cancelled before a r <br /> certificate for the transferred shares shall be issued. <br />