NRHA Handbook

limited to those decisions necessary, on a daily basis or requiringimmediate attention, for continuity as establishedby the Bylaws, Rules and Regulations, Active Resolutionsadopted by the Board of Directors and Policies and Proceduresapproved by the Board of Directors. Any such decisionor action taken by the Executive Committee as allowed hereinrequires a majority approval of the officers who comprisethe Executive Committee.b) Any such actions taken under this Section shall be reportedin the Executive Committee minutes and in detail at thenext regularly scheduled meeting of the Board of Directors.c) The Board of Directors has the oversight responsibility forthe Executive Committee of this association and can countermandany actions or decisions the Board deems appropriate.d) The Officers of the Association shall not, without priorBoard of Director’s approval, bind the Association to any longterm contractual obligations. For purposes of these Bylaws,long term contractual obligation is defined as any contractualagreement which requires expenditures of funds on behalfof the Association and shall be in effect for a period inexcess of two (2) years. Furthermore, the officers shall nothave the authority to bind the Association to any agreement,debt, obligation, or expenditure of Ten Thousand ($10,000)Dollars or more, without the prior approval of the Board ofDirectors. No cumulative expenditures totaling Ten Thousand($10,000) Dollars or more is permitted to any one (1)person, partnership, corporation, or out of the same transactionduring the current fiscal year without prior Board ofDirectors approval.Section 2. Duties of the President.a) The President shall be the Executive Officer of the Association.He shall preside at all meetings of the Board of Directorsand membership meetings. Within any limitationsimposed by the Articles of Incorporation, these Bylaws, orthe Board of Directors, he shall have general power to conductand manage the affairs and business of the Associationand shall see that all orders and resolutions of the Board arecarried into effect; subject, however, to the right of the Directorsto delegate any specific powers, except such as maybe by statute exclusively conferred upon the President, toany other officer or officers of the Association. He shall beex-officio a member of all committees, with the exceptionof the Nominating Committee.b) The President does not set policy or obligate the organizationor its resources independent of the Board of Directors.c) He shall execute bonds, mortgages, contracts and otherdocuments approved by the Board of Directors requiring executionon behalf of the Association.d) The President shall oversee the activity of the ExecutiveCommittee, Standing Committees (with the exception of the12