1. Purpose. Legal authorizations, including signature authority, is necessary to carry out the functions of the institution. It also obligates Eastern New Mexico University-Roswell (ENMU-Roswell) to fulfill agreements by authorized representatives of the institution. As such, annual authorization, including signature authority, is tightly controlled by the Board of Regents.
2. Signature Authority. The Board of Regents of Eastern New Mexico University approve the following authorizations of Officers and Administrators; effective August 13, 1996, being effective until rescinded or until the next election of Board officers as per the Board of Regents Manual and especially Sections I.5.C, I.5.E, II.2.D (3) and II.2.D (9):
A. The officers of the Board: President, Vice President, and Secretary/Treasurer, are authorized to sign checks, drafts, and other documents on the Board's behalf.
B. The Vice President of the Board is authorized to sign for the President or the Secretary/Treasurer of the Board in the absence of either. The Secretary/Treasurer of the Board is authorized to sign in the absence of the Vice President.
C. The President or the Vice President of the Board is authorized to execute (buy, sell, assign or endorse for transfer) certificates representing stocks, bonds or other securities now registered or hereafter registered in the name of the University.
D. The President of the University and the Vice President for Business Affairs of the University are authorized to continue to sign contracts, grants, and other agreements (including but not limited to bank signature forms) that are necessary for the daily operation of the University. The President of the University is further authorized to delegate similar authority to other administrative officers connected with various entities at the University to execute designated contractual and financial documents related to their respective organizations.
E. The President of the University will report bank signature forms to the President of the Board by mail following their signing and the whole Board at the next regular Board of Regents meeting following the signing of the form and will submit such forms for review by the Board subcommittee on Finance and Audit.
Approved by the Board of Regents on August 13, 1996.