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ARTICLE 7 ADMINISTRATIVE AND FINANCIAL PROVISIONS
Section 7.1 Fiscal Year. The fiscal year of the Association shall be the calendar year.
Section 7.2 Contracts. The Board, except as otherwise provided in the Bylaws, may by resolution authorize any officer or agent of the Association to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Association. Such authority may be general or confined to specific instances. Unless so authorized, no officer, agent, or employee shall have power or authority to bind the Association in any contract or engagement or to pledge its credit or to render it liable for any purpose in any amount.
Section 7.3 Checks, Drafts, Etc. Except as otherwise specifically determined by resolution of the Board, or as otherwise required by the laws of the State of Washington, checks, drafts, promissory notes, orders for the payment of money, or other evidence of indebtedness of the Association shall be signed by such officer or officers, or agent or agents, of the Association and in such manner as is from time to time determined by resolution of the Board.
Section 7.4 Books and Records. The Association shall keep at its registered office, its principal office in Washington, or at its secretary’s office in Washington, the following:
- The Association’s current Articles and any amendments thereto;
- The Association’s current Bylaws and any amendments thereto;
- The Association’s records of accounts and finances;
- The name and addresses of the Association’s current officers and directors; and
- The minutes of the proceedings of the Board, and any minutes that may be maintained by committees of the Board.
Records may be written or electronic if capable of being converted to writing.
Section 7.5 Copies of Resolutions. Any person dealing with the Association may rely upon a copy of any of the records of the proceedings, resolutions, or votes of the Board when certified by the president or secretary.
Section 7.6 A Director’s Inspection Rights. Every director shall have the right at any reasonable time to inspect and copy all books, records, and documents of any kind and inspect the physical properties of the Association and shall have such other rights to inspect the books, records, and properties of the Association as may be required under any of the Governing Documents or by the provisions of the laws of the State of Washington.
Section 7.7 Right to Copy and Make Extracts. Any inspection under the provisions of this Article 7 may be made in person or by an agent or attorney of that person, and the right to make such inspection shall include the right to make copies and to make extracts at the sole expense of the party conducting the inspection.
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