Section 1. Financial Procedures. The Board of Directors sets MRN’s financial procedures by resolutions as approved from time to time.
Section 2. Fiscal Year. The Board of Directors sets MRN’s fiscal year by resolution, and the fiscal year remains in force until and unless another fiscal year resolution is approved by the Board.
Section 3. Contracts. No contract may be entered into on behalf of the Corporation except as authorized by the Board of Directors, and such authority may be general or it may be confined to specific instances.
Section 4. Deposit of Funds. All funds of the Corporation not otherwise employed shall be deposited in such banks or trust companies or with other depositories as the Board of Directors from time to time may determine.
Section 5. Checks and Other Indebtedness. All checks, drafts, endorsements, notes, and evidences of indebtedness of the Corporation shall be signed by such officer or officers or agent or agents of the Corporation and in such manner as the Board of Directors from time to time may determine.
Section 6. Membership Renewal Policy. Membership dues and the deadline for payment shall be established by the Board of Directors. Membership dues shall be paid annually by all members. Any member whose dues are in arrears within three months of the due date for payment of dues may be suspended from membership. Any member who has been suspended for non-payment of dues may be reinstated at the discretion of the Board of Directors upon payment of dues.
Section 7. Compensation. No member or Director of the Corporation may receive compensation for acting as a member or Director except as reimbursement for reasonable expenses incurred in fulfilling responsibilities as a member or Director.