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ARTICLE 12 CONTRACTS All contracts or other documents authorized by the Directors and in accordance with the approved policies and progress of the Corporation to be executed in the name and on behalf of the Corporation shall be signed by such officer or officers , agent or agents of the Corporation as the Directors may from time to time designate, and in such manner as may be prescribed by the Directors . All instruments to be executed in the name and on behalf of the Corporation may be signed by the President or Vice President, and, if required by law, attested by the Secretary or Assistant Secretaries , if any of the Corporation. ARTICLE 13 FINANCIAL TRANSACTIONS Section 1 . Deposits . All funds of the Corporation shall be promptly deposited to the credit of the Corporation in one or more such banks, trust companies or other depositories as the Executive Director may from time to time designate , and upon such terms and conditions as my be prescribed the Directors . The Directors may from time to time authorize the opening and keeping, with any such depository as the Executive Director may designate, general and special bank accounts and may make such special rules and regulations with respect thereto , not inconsistent with the provisions of these Bylaws , as it may deem necessary . Section 2 . Withdrawals . All checks, drafts , or other orders for the payment of money, and all notes or other evidences of such indebtedness issued in the name of the Corporation shall be signed by such officer or officers, agent or agents of the Corporation as the Directors may from time to time designate, and in such manner as may be prescribed by the Directors, In the absence of specific signatories being designated by the Directors , all such instruments shall be signed by the Treasurer and be countersigned by the Executive Director of the Corporation. Section 3 . Gifts . The Directors may accept on behalf of the Corporation any contribution, gifs , bequest or devise for and consistent with the general purposes , or for and consistent with any specific purpose of the Corporation . Section 4 . Loans to Directors and Officers Prohibited No loans shall be made by the Corporation to Directors or Officers . Section 5 . Records . The Corporation shall keep correct and complete records of all of its financial transactions , which records shall be open for inspection at any reasonable time by any Officer or Director. Section 6 . Budget. The annual budget is subject to the approval of the Member(s) . All - 14 -