The corporation may not deposit any of its funds in a banking institution unless the institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of a director who is an officer or director of the depository. The corporation may not receive money on deposit.
Section: Previous 10.10.070 10.10.080 10.10.090 10.10.100 10.10.110 10.10.120 10.10.130 10.10.140 10.10.150 10.10.160 10.10.170 10.10.180 10.10.185 10.10.190 10.10.200 NextLast modified: November 15, 2016