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Policy Manual – Signatory Authorities

GOVERNANCE AND LEGAL AFFAIRS
Section 207 Signatory Authorities

Effective: 1/25/78
Last Revised: 7/19/78; 5/23/11;7/18/11
Responsible Office: Clerk of the Board

Policy Statement:

The Treasurer of the University of Maine System is:

1) Authorized to grant to designated officers and employees of the University of Maine System the authority

(a) to sign checks drawn on bank accounts of the University System, drafts, acceptances or other instruments on such specific purposes, within such specific limits, and upon such terms and conditions as the Treasurer shall establish from time to time; and

(b) to sign contracts, grant applications, research proposals, purchase orders and similar instruments on behalf of the University System in the regular course of the operation of the institution for such specific limits, and upon such terms and conditions as the Treasurer shall establish from time to time; and

2) Authorized to revoke and modify any authority so granted.

3) All such grants of authorities shall be approved in advance by the Treasurer and shall be kept current and on file in the Treasurer’s Office.

The Treasurer, the Chair of the Board of Trustees, or the Chair of the Finance Committee, with the approval of the Board of Trustees, may sell, assign, and transfer any and all securities owned by or standing in the name of this corporation; execute proxies, consents, deposit and protective agreements, and perform such other acts as may be essential to the expeditious administration of the endowment funds and other securities of the corporation and the rights and duties incident thereto.

Related Documents:

Administrative Practice Letter Section IV – C: Signature Authority