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<br />e <br /> <br />e <br /> <br />into the minutes by the Secretary. Any proposed amendment of the <br />Bylaws must be approved by a two-thirds (2/3) vote of the members <br />of the Board of Directors, voting in presence, or by proxy, at said <br />meeting. <br /> <br />Section 11. POWER TO REQUIRE BONDS: The Board of Directors <br />may require any off icer or agent to file with the corporation a <br />satisfactory bond conditioned for faithful performance of his duties, <br />the premium for said bond to be paid by the corporation. <br /> <br />Section 12. POWER TO BORROW MONEY: The Board of Directors <br />shall have full power and authority to borrow money whenever in the <br />discretion of the Board of Directors the exercise of said power is <br />required in the interests of this corporation, and in such case the <br />Board of Directors may authorize the proper officers of this corpor- <br />ation to make, execute and deliver in the name and behalf of this <br />corporation such notes and other evidences of indebtedness as said <br />Board shall deem proper. <br /> <br />,- <br /> <br />Section 13. DELEGATION OF POWER: For any reason deemed suf- <br /> <br />ficient by the Board of Directors, whether occasioned by absence <br /> <br />or otherwise, the Board may delegate all or any of the powers and <br /> <br />duties of any officer to any other officer or director, but no officer <br /> <br /> <br />or director shall execute, acknowledge or verify any instrument in <br /> <br />more than one capacity. <br /> <br />Section 14. COMMITTEES: The Board of Directors <br />power to appoint by resolution, an Executive Committee. <br /> <br />shall have <br />The Execu- <br /> <br />-11- <br />