Checks and Notes. Notwithstanding the provisions of Article 12.1 and except as otherwise specifically determined by a resolution of the Board of Directors, or as otherwise required by law, checks, drafts, promissory notes, orders for the payment of money and other evidence of indebtedness of the Association with an aggregate value of less than twenty thousand euros (€20,000) over any quarter may be approved for payment by the President, the General Secretary or the Treasurer. Notwithstanding the provisions of Article 12.1, checks, drafts, promissory notes, orders for the payment of money and other evidence of indebtedness with an aggregate value of more than twenty thousand euros (€20,000) shall be approved for payment by of two (2) or more of the abovementioned officers and in accordance with the financial policy of the Association as approved by the Board of Directors.
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