Common use of RESPONSIBILITIES FOR FUNDS AND PROPERTY Clause in Contracts

RESPONSIBILITIES FOR FUNDS AND PROPERTY. The Secretary/Treasurer, or his or her designee, shall have the custody of and disburse CHAC’s funds. The Secretary/Treasurer may delegate disbursements to persons as may be authorized by the Board to perform them.

RESPONSIBILITIES FOR FUNDS AND PROPERTY. The Secretary/Treasurer, or his or her designee, shall have the custody of and disburse CHAC’s funds. Proceeds of similar obligations of CHAC may be deposited with a trustee, agent or other depositary and shall not be considered CHAC’s funds for purposes of this Section. The Secretary/Treasurer may delegate disbursements to persons as may be authorized by the Board to perform themthat function.