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Depositories and Signatories

PolA Author: 
Michael Gray
PolA Date: 
Sunday, October 18, 2020
PolA Rationale: 

Since the 911 tragedy, starting new bank accounts every year has become much more complicated. Instead of opening and closing accounts every year, we change the signatories instead. I've included some items to help streamline these procedures.

PolA Section: 
SECTION 8.08 DEPOSITORIES AND SIGNATORIES
PolA Amendment: 

The District Board of Directors shall annually determine the official depositories for District funds and shall be approved at the District Board of Directors meeting at the District Convention prior to the start of the next administrative year. All bank signature cards should be signed before the next administrative year.

The District Executive Committee shall designate the District Officers authorized to endorse, execute, and sign checks or orders for the payment of money, and such shall be co-signed by two such Officers. The co-signers shall include Governor, District Secretary-Treasurer and the most immediate and available Past-Governor and not be members of the same family, household, and/or business partners.

PolA Final: 

The District Board of Directors shall annually determine the official depositories for District funds and shall be approved at the District Board of Directors meeting at the District Convention prior to the start of the next administrative year. All bank signature cards should be signed before the next administrative year.

The District Executive Committee shall designate the District Officers authorized to endorse, execute, and sign checks or orders for the payment of money, and such shall be co-signed by two such Officers. The co-signers shall include Governor, District Secretary-Treasurer and the most immediate and available Past-Governor and not be members of the same family, household, and/or business partners.

PolA BoD Date: 
Saturday, October 31, 2020