DEPOSIT AND DISBURSEMENTS OF FUNDS

SECTION 1.
The general funds of this Society shall be deposited only in U.S. national banks, state banks in California, trust companies or mutual savings companies operating in accordance with laws of the state in which this Society maintains its principal place of business, and the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC).

Section 2, Disbursement of Funds.

The general funds of this Society shall be disbursed only by vote of the Executive Council.

All moneys dispensed from the general funds shall be drawn by the Executive Council and by authority of such warrant dispensed by check or debit card.

Section 3, Discretionary Funds.

Discretionary funds may be established for the postage expenses of the Secretary and Treasurer.

Discretionary funds may be established for the Director of Research and for designated programs to defray expense items.

Limited, well-defined discretionary authority may be granted to members for projects benefiting the Society.