ARTICLE X MISCELLANEOUS SECTION I – COLLECTION OF INDEBTEDNESS The Board of Directors is authorized to take such legal action for the collection of any indebtedness to the Club as it may deem advisable. SECTION II – CAPITAL EXPENDITURES Capital expenditures not in excess of $3,000 may be made with the approval of the General Manager, expenditures not in excess of $5,000 may be made with the approval of the President or, in his absence by the Vice President, and capital expenditures not in excess of $10,000 may be made by three of the following: President, Vice President, Treasurer, Chairman of the Finance Committee, Chairman of the Grounds Committee or Chairman of the House Committee. Capital expenditures not in excess of $50,000 may be approved by a majority vote of the Executive Committee with capital expenditures over $50,000 requiring the approval of the majority of the Board at a duly called meeting. SECTION III – RELIANCE Members of the Board, the officers and committee members designated by the Board shall in the performance of their duties be fully protected in relying in good faith upon the records of the Club and upon such information, opinions, reports or statements presented to the Club by any of its officers, employees or Board committees, or by any other person as to matters which such Board member, officer or committee member reasonably believes are within such person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Club. SECTION IV – INTERPRETATION The judgment of the Board of Directors shall be final and conclusive in determining all questions of the construction or interpretation of these By-laws. SECTION V – PRONOUN Wherever in these By-laws the masculine pronoun is used, it shall include the feminine pronoun.
ARTICLE XI AMENDMENTS
These By-laws may be amended, altered or repealed at any regular or special meeting of the Board by the affirmative vote of a majority of all members of a Board; provided that (a) such amendments shall have been offered at the previous meeting of the Board; or (b) information thereof shall have been given
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