11.0 Banking and Signing Officers

11.1 Contracts, documents or any instruments in writing (including all banking documents) requiring the signature of FMRAC shall be signed by two (2) signing officers named annually by the Board, in compliance with the Policy on Signing Authorities.
11.2 The Board shall not, without prior approval by the Members, make any capital expenditures which, either alone or in conjunction with other capital expenditures in any given financial year of FMRAC, exceed in the aggregate One Hundred Thousand ($100,000) Dollars.