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La Physique au Canada/13

such arrangements, tenns and conditions, and co give such addlclonal securłties for any monies borrowed or remaining due by the Association as the Executive may authorize, and generally to manage, transact, and settle the borrowing of money by the Association.

3. The Executive may from cime to time

authorize anyone to slgn, execute and give on behalf of the Association all documents, agreements, and premises necessary or desirable for the purpose aforesald, and to draw, make, accept, endorse, execute, and issue cheques, promlssory notes, bills of exchange, bills of ladlng, and other negotiable or transferable instrument, and the same and all renewals thereof or substitutions therefor so signed shall be binding upon the Association.

U. The powers hereby conferred shall be deemed to be in supplement of and not in substitution for any powers to borrow money for the purposes of the Association possessed by its Executive independently of a borrowing By-Law.

BY-LAW NO. 3

Be it enacted as By-Law No. 3 of the Canadian Association of Physicists as follows:

The Executive may from time to time:

(a) Borrow money upon the credit of the Association in such amounts and upon such terms as may be deemed necessary;

(b) Issue bonds, debentures, debenture stock, or other securities of the Association for its lawful pusposes, for such amounts and upon such terms as may be deemed expedient, and pledge or sell the same for such sums and at such prices as the Executive shall determine;

(c) Hypothecate, mortgage, charge or pledge all or any of the real or personal movable or immovable, property, undertakings, and rights of the Association to secure any such bonds, debentures, debenture stock, or other securities, or any money borrowed or any other liability of the Association.

(d) Delegate to such one or morę of the officers and directors of the Association as may be designated by the Executive all or any of the powers conferred by the foregoing clauses of this By-Law to such extent and in such manner as the Executive shall determine at the time of such delegation.

(e) Give indemnities to any person who

has undertaken or is about to undertake any liablllties on behalf of the Association and to secure such person against loss by giving him a mortgage or charge upon the whole or any part of the real or personal property of the Association.