ARTICLE IX
CONTRACTS
Except as otherwise provided, and to the extent permitted by law, the board of directors of the association may authorize any officer, officers, agent or agents, in the name of and on behalf of the association, to enter into any contract, to execute and deliver any instrument, or to sign checks, drafts, or other orders for the payment of money or notes or other evidences of indebtedness, and such authority may be general or confined to the specific instances. Unless so authorized by these bylaws or the board of directors, no officer, director, agent, or employee shall have any power to bind the association by any contract or engagement or to pledge its credit or to render it liable pecuniary (monetarily) for any purpose or for any amount.