355.456. Execution of contracts by officers.
Execution of contracts by officers.
355.456. Any contract or other instrument in writingexecuted or entered into between a corporation and any otherperson is not invalidated as to the corporation by any lack ofauthority of the signing officers in the absence of actualknowledge on the part of the other person that the signingofficers had no authority to execute the contract or otherinstrument if it is signed by any two officers in category 1 orby one officer in category 1 and one officer in category 2.Category 1 officers are the presiding officer of the board andthe president. Category 2 officers are a vice president, thesecretary, treasurer and the executive director.
(L. 1994 H.B. 1095)Effective 7-1-95