Delegation of Signature Authority

The AUI Board of Trustees delegated authority to the AUI President, AUI Treasurer, and the AUI Controller to be the official check signers on the AUI bank account with JP Morgan bank. The AUI Treasurer is authorized to:

  • Open bank accounts in the name of the Corporation.
  • Grant authority, revoke or limit the authority, to any person or persons to sign checks, drafts or other orders, including those drawn to the individual order of a signer, by manual or facsimile signature for the withdrawal or payment of funds from any bank account maintained by the Corporation.
  • Enter into such arrangements as necessary to provide for the transfer and payment of funds from any of the Corporation’s accounts pursuant to directions or instructions transmitted to the account holder whether through computer or similar electronic service (including Automated Clearinghouse transactions), or by telegraphic or telefax instructions.
  • Open investment accounts in the name of the Corporation and to buy and sell investment instruments in conformance with the AUI investment policy.
  • Secure safety deposit boxes in the name of the Corporation and to carry out all required administrative activities with respect to such safety deposit boxes, such as granting and revoking authority of persons to have access to said safety deposit boxes.
  • Enter into Letter of Credit arrangements when necessary for the conduct of operations
  • Enter into arrangements with banks and other financial institutions regarding the use of credit cards by employees for the sole purpose of conducting AUI business
  • Execute night depository agreements.