Policy Manual -
Signatory Authorities
GOVERNANCE AND LEGAL AFFAIRS
Section 207 Signatory Authorities
Effective: 1/25/78
Last Revised: 7/19/78
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 Chancellor and shall be kept current and on file in the Office of the Clerk of the Board.
The Chair of the Finance Committee, the Chair of the Board of Trustees, and the Treasurer of this Corporation, acting singly, be and hereby is authorized and directed in their discretion to sell, assign, and transfer any and all securities owned by or standing in the name of this corporation; also, in their discretion to execute proxies, consents, deposit and protective agreements, and to perform such other acts as may be essential to the expeditious administration of the endowment funds and other securities of this corporation and the rights and duties incident thereto; and that this vote supersedes all previous authorizations pertaining to the disposition of securities and shall remain in full force and effect until rescinded.
Related Documents:
Administrative Practice Letter Section IV - C: Signature Authority