287. The bonds, notes and other securities of the Commission shall be signed by the chairman and general manager and by the secretary or, if the latter is unable to act, by the person designated for such purpose by the Commission.
The facsimile of the signature of the chairman and general manager may be engraved, lithographed or printed on the bonds issued by the Commission, and such facsimile shall have the same effect as if the signature itself had been affixed thereto.
The facsimile of the signatures of the chairman and general manager and of the secretary of the Commission may be engraved, lithographed or printed on the bond coupons and cheques issued by the Commission, and such facsimile shall have the same effect as if the signatures themselves had been affixed thereto.
Although a person whose signature or a facsimile of whose signature has been affixed to a bond, note or other security of the Commission or to a coupon as chairman and general manager or secretary of the Commission or as a person designated for that purpose by the Commission, has ceased to act in such capacity before such bond, note, security or coupon is issued and delivered, that signature is nevertheless valid and binds the Commission in the same manner as if the person had continued to act in such capacity on the date of such issue and delivery and the signature or facsimile of the signature of the person acting in such a capacity on the date that such signature or facsimile is affixed to a bond, note, coupon or other security of the Commission shall bind the Commission even though on the date of such bond, coupon, note or security, such person was not acting in that capacity.
1969, c. 84, s. 311; 1972, c. 73, s. 18.