Section 458.531 - United Missionary churches; sale of real estate, authorization; proceeds.
UNITED MISSIONARY CHURCHES (EXCERPT)
Act 265 of 1949
458.531 United Missionary churches; sale of real estate, authorization; proceeds.
Sec. 11.
Whenever it shall become necessary for the payment of debts or with a view of reinvestment, to make a sale of any real estate belonging to said church, the local conference of said church may, by a vote of a majority of all the members of said quarterly conference and the consent of the annual conference of which said church shall be a part, authorize a sale of said real estate by the trustees of said church with such limitations and restrictions as the quarterly conference and annual conference may judge necessary and impose, and the trustees of said church, when so authorized, may sell and convey said property, and with the proceeds of such sale pay the debts of such corporation, or reinvest the said proceeds by the purchase or improvement of other property for the same uses, and deeded to the corporation in the same manner as provided in section 7 of this act, as said trustees may be directed by the local conference and the annual conference.
History: 1949, Act 265, Eff. Sept. 23, 1949