Section 1. Contracts. The Executive Board may authorize any officer or officers, agent or agents of the SHMCNY, in addition to the officers so authorized by these By-laws, to enter into a contract or execute and deliver any instrument in the name of and on the behalf of the SHMCNY, and such authority may be general or confined to specific instances.


Section 2. Checks, Drafts, etc. All checks, drafts or orders for payment of money, notes or other evidences of indebtedness issued in the name of the SHMCNY, shall be signed by such officer or officers, agent or agents of the SHMCNY and in

such manner as shall from time to time be determined by resolution of the Executive Board, however, the signatures of two officers shall be required for disbursement of SHMCNY funds.


Section 3. Deposits. All funds of the SHMCNY shall be deposited from time to time within 4 days of receiving funds, whichever is shorter, to the credit of the SHMCNY in such banks, trust companies or other depositories that the organization may select.


Section 4. Gifts and Contributions. The Executive Board may accept on behalf of the SHMCNY any contribution, gift, bequest, or devise for the general purposes or for any special purpose of the SHMCNY. Such contributions, gifts, bequests, or devises shall be in conformity with the laws of the United States, the New York State, or any other relevant jurisdiction.


Section 5. Fiscal Review. Each year, the Executive Board shall appoint an Audit Committee of not less than three (3) members of the SHMCNY, which Audit Committee members shall not include the President or Treasurer. The Audit Committee shall conduct a review of the books and financial records of the SHMCNY and shall present the results of such review no later than the end of the membership year.


Section 6. Disbursements. Disbursements from Club funds shall be voted and approved by a majority vote of the Executive Board. Such a vote may be overruled by a majority Membership vote at a General Monthly Meeting, or a Special meeting called for that purpose. Checks written on the Club account shall require the consent of the Treasurer and President or Vice President. Club funds can also be provided as a gift or donation to a bona fide charitable organization as approved by the Executive Board, and ¾ vote of the members in good-standing.