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ARTICLE XI I <br />CONTRACTS, LOANS, CHECKS AND DEPOSITS <br />Section 1. Contracts. The Board of Directors may authorize any officer or officers, agent or <br />agents, to enter into any contract or execute and deliver any instrument in the name of and <br />on behalf of the association, and such authority may be general or confined to specific <br />instances. <br />Section 2. Loans. No loan shall be contracted on behalf of the members and no evidence of <br />indebtedness shall be issued in its name unless authorized by a resolution of the Board of <br />Directors. Such authority may be general or confined to specific instances. <br />Section 3. Checks, Drafts. All checks, drafts, or other orders for the payment of money, <br />notes or other evidences of indebtedness issued in the name of the association, shall be <br />signed by such officer or officers, agent or agents of the association and in such manner as <br />shall from time to time be determined by resolution of the Board of Directors. <br />Section 4. De osits. All funds of the association not otherwise employed shall be deposited <br />from time to time to the credit of the association in such banks, trust companies, or other <br />depositories as the Board of Directors may select. <br />ARTICLE XIII <br />AMENDMENTS <br />These Bylaws may be altered, amended, or repealed or new Bylaws may be adopted only by <br />approval of a majority of the entire Board and by two-thirds (2/3) of the Producer 1Vlembers <br />in attendance at a regular or special membership meeting called for the purpose pursuant to <br />these Bylaws. The proposed changes must be included with the meeting notice to the <br />respective meeting. <br />Page 8 of 8 Revised: January 26, 2004