ICANN Resolutions » 1999-01-17 - DISBURSEMENT OF FUNDS
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Board authorizes Michael Roberts to disburse funds for purposes that he believes to be in the interest of the Corporation provided specified approval requirements are met.
RESOLVED [resolution 99.7], that Michael Roberts, in his capacity as an officer of the Corporation, be, and he hereby is, authorized to disburse funds of the Corporation for purposes that he believes to be in the interest of the Corporation, in accordance with the following procedures:For individual disbursements of $10,000 or less, or installments on liabilities aggregating to $10,000 or less: funds may be disbursed without prior approval.
For individual disbursements of more than $10,000 but less than $50,000, or installments on liabilities aggregating to such amounts: funds may be disbursed with the prior approval of at least two members of the Executive Committee (other than Mr. Roberts), which approval may be by email, telecopy or other writing.
For individual disbursements of $50,000 or more, or installments on liabilities aggregating to such amounts: funds may be disbursed with the prior approval of the Executive Committee.
FURTHER RESOLVED [resolution 99.8], that Mr. Roberts shall monthly circulate to all members of the Board a description of all disbursements of funds of the Corporation made during the prior month.