1996 Book of Discipline: Paragraph 2542| General Conference 2000

ś 2542. Restriction on Proceeds of Mortgage or Sale⁸--1. No real property on which a church building or parsonage is located shall be mortgaged to provide for the current (or budget) expense of a local church, nor shall the principal proceeds of a sale of any such property be so used. This provision shall apply alike to unincorporated and incorporated local churches.⁹

[FTN] 8. See Judicial Council Decision 688.

[FTN] 9. See Judicial Council Decision 399.

2. A local church, whether or not incorporated, on complying with the provisions of the Discipline may mortgage its unencumbered real property as security for a loan to be made to a conference board of global ministries or a city or district missionary society; provided that the proceeds of such loan shall be used only for aiding in the construction of a new church.



	1996 Discipline ¶ 2542
	ś 2542. Restriction on Proceeds of Mortgage or Sale⁸--1. No real property on which a church building or parsonage is located shall be mortgaged to provide for the current (or budget) expense of a local church, nor shall the principal proceeds of a sale of any such property be so used. This provision shall apply alike to unincorporated and incorporated local churches.⁹ [FTN] 8. See Judicial Council Decision 688. [FTN] 9. See Judicial Council Decision 399. 2. A local church, whether or not incorporated, on complying with the provisions of the Discipline may mortgage its unencumbered real property as security for a loan to be made to a conference board of global ministries or a city or district missionary society; provided that the proceeds of such loan shall be used only for aiding in the construction of a new church.
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1996 Discipline ¶ 2542