§ 45 - Officers' authority to execute documents - Vermont Statutes

§ 8.45. Officers' authority to execute documents

Any contract or other instrument in writing executed or entered into between a corporation and any other person is not invalidated as to the corporation by any lack of authority of the signing officers in the absence of actual knowledge on the part of the other person that the signing officers had no authority to execute the contract or other instrument if it is signed by either the presiding officer of the board of directors and the president or, if the corporation has no president, or if they are the same person, then by the executive director of the corporation and any other officer. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)