Any contract or other instrument in writing executed or entered into between a corporation and any other person is not invalidated as to the corporation by any lack of authority of the signing officers in the absence of actual knowledge on the part of the other person that the signing officers had no authority to execute the contract or other instrument if it is signed by any two officers in category 1 below or by one officer in category 1 below and one officer in category 2 below. Categories shall be as follows:
(1) Category 1 shall consist of the presiding officer of the board and the president; and
(2) Category 2 shall consist of a vice president, the secretary, the treasurer, and the executive director.
The absence of the signature of such persons from a document shall not itself impair the validity of the document or of any action taken in pursuance thereof or in reliance thereon.
Section: Previous 14-3-840 14-3-841 14-3-842 14-3-843 14-3-844 14-3-845 14-3-846 NextLast modified: October 14, 2016