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G~OX ti~ P!G~ 0 <br />9 <br />Section 4. Checks, Drafts, Etc. All notes, drafts, acceptances, checks <br />and endorsements or other evidences of indebtedness shall be signed by the <br />president or vice-president and by the secretary or the treasurer, or in such other <br />manner as the Board of Directors from time to time may determine. <br />Endorsements for deposit to the credit of the corporation in any of its duly <br />authorized depositories will be made by the president or treasurer or by any officer <br />or agent who may be designated by resolution of the Board of Directors in such <br />manner as such resolution may provide. <br />Section 5. Gifts. The Board of Directors may accept on behalf of the <br />corporation any contribution, gift, bequest, or devise for the general purposes or <br />for any special purpose of the corporation. <br />ARTICLE VI <br />General Provisions <br />Section 1. Corporate Seal. The corporate seal shall be in such form as <br />shall be approved from time to time by the Board of Directors. <br />Section 2. Fiscal Year. The fiscal year of the corporation shall be <br />established from time to time by resolution of the Board of Directors. <br />Section 3. Waiver of Notice. Whenever any notice whatever is required <br />to be given under to provisions of the Non-Profit Corporation Act of the State of <br />North Carolina or under the provisions of the Articles of Incorporation or the By- <br />Laws of the corporation, a waiver thereof in writing signed by the person or <br />persons entitled to such notice, whether before or after the time stated therein, <br />shall be deemed equivalent to the giving of such notice. <br />Section 4. Amendment to By-Laws. These By-Laws may not be <br />altered, amended, or repealed nor may new By-Laws be adopted except upon the <br />prior approval of the Board of Commissioners of Lee County, North Carolina. <br />However, upon such approval having been given by said Board of <br />Commissioners, these By-Laws may be altered, amended, or repealed and new <br />By-Laws may be adopted by two-thirds (2/3) of the Directors present; provided <br />that at least seven (7) days notice in writing is given of the intention to alter, <br />amend, or repeal or to adopt new By-Laws at such meeting. <br />Section 5. Adoption. The above By-Laws of the Lee County Economic <br />Development Corporation are hereby approved this day of <br />1997. <br />8 <br />