Contracts
8.01 The Board may authorize any Officer or agent of the Corporation to enter into a contract or execute and deliver any instrument in the name of and on behalf of the Corporation. This authority may be limited to a specific contract or instrument or it may extend to any number and type of possible contracts and instruments. Deposits
8.02 All funds of the Corporation shall be deposited to the credit of the Corporation in banks, trust companies, or other depositories that the Board selects. Gifts
8.03 The Board may accept on behalf of the Corporation any contribution, gift, bequest, or devise for the general purposes or for any special purpose of the Corporation. The Board may make gifts and give charitable contributions that are not prohibited by the By-Laws, the Articles of Incorporation, state law, and any requirements for maintaining the Corporation's federal and state tax status. Potential Conflicts of Interest
8.04 The Corporation shall not make any loan to a Director or Officer of the Corporation. A member, Director, Officer, or committee member of the Corporation may lend money to and otherwise transact business with the Corporation except as otherwise provided by the By-Laws, Articles of Incorporation, and all applicable laws. Such a person transacting business with the corporation has the same rights and obligations relating to those matters as other persons transacting business with the Corporation. The Corporation shall not borrow money from or otherwise transact business with a member, Director, Officer, or committee member of the Corporation unless the transaction is described fully in a legally binding instrument and is in the best interests of the Corporation. The Corporation shall not borrow money from or otherwise transact business with a member, Director, Officer, or committee member of the Corporation without full disclosure of all relevant facts and without the approval of the Board, not including the vote of any person having a personal interest in the transaction. Prohibited Acts
8.05 As long as the Corporation is in existence, and except with the prior approval of the Board or the members, no member, Director, Officer, or committee member of the Corporation shall: (a) Do any act in violation of the By-Laws or a binding obligation of the Corporation.
(b) Do any act with the intention of harming the Corporation or any of its operations.
(c) Do any act that would make it impossible or unnecessarily difficult to carry on the intended or ordinary business of the Corporation.
(d) Receive an improper personal benefit from the operation of the Corporation.
(e) Use the assets of the Corporation, directly or indirectly, for any purpose other than carrying on the business of the Corporation.
(f) Wrongfully transfer or dispose of Corporation property, including intangible property such as goodwill.
(g) Use the name of the Corporation (or any substantially similar name) or any trademark or trade name adopted by the Corporation, except on behalf of the Corporation in the ordinary course of the Corporation's business.
(h) Disclose any of the Corporation's business practices, trade secrets or any other information not generally known to the business community or any person not authorized to receive it.
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