ISAPS’ Account Signatories Policy

1. Purpose
   The purpose of this policy statement is to establish ISAPS’ Account Signatory authority.
2. Revision History
   Previous Practice of ISAP: The previous practice of ISAPS was to make the Treasurer the only signatory to our account(s). This new policy statement replaces the previous policy with the following:
3. Account Signatories Policy Adopted in April 2004:
1. The Treasurer and the “Financial Trustee” of ISAPS shall be the signatories to all ISAPS bank accounts, including cash and cash equivalents.
2. The “Financial Trustee” shall not be a member of the Executive Committee, but shall be a trusted person of repute nominated by the Executive Committee as the second signatory to our account(s).
3. When the holders of these positions change, the Executive Committee shall authorize the outgoing signatories to sign any appropriate bank documents itemizing the new signatories to all accounts held by ISAPS.
4. Only funds approved by the Executive Committee for legitimate business of the Association can be withdrawn from our accounts.
4. Future Changes to ISAPS’ Account Signatories Policy:
1. This new policy direction was ratified at the 2004 Annual General Meeting of ISAPS.
2. All future accounts Signatories Policies shall be adopted and ratified at the Annual General Meeting of ISAPS before such changes can be effected.