48.11 CONTRACTS, HOW MADE.
51 words·~1 min read·
/mn/chapter-48/48-11A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
48.11 CONTRACTS, HOW MADE.
Every contract made by any bank, except routine business, shall be first duly authorized by resolution of its board of directors, signed by the president or vice-president and by the cashier or some other officer specially designated by the board, and have its corporate seal impressed thereon.