§ 17-19-845 — Officers' authority to execute documents

(a) Any contract or other instrument in writing executed
or entered into between a corporation and any other person is
not invalidated as to the corporation by any lack of authority
of the signing officers in the absence of actual knowledge on
the part of the other person that the signing officers had no
authority to execute the contract or other instrument if it is
signed by any two (2) officers in Category 1 below or by one (1)
officer in Category 1 below and one (1) individual in Category 2
below:
(i) Category 1-The presiding officer of the board and
the president;
(ii) Category 2-A vice president, the secretary,
treasurer and executive director.
E. Indemnification