Difference between revisions of "4690:2"

Latest revision as of 01:56, 16 November 2022

(2) Whenever the real property of a local church acquired by a conveyance containing the trust clause in 4610 is mortgaged or encumbered, as provided for in The Discipline (4700–4728), the written approval of the district board of administration for such mortgage or encumbrance (4700:3) shall constitute a formal recognition of the priority of such mortgage lien and the subordination of the trust clause thereto (4630).

Revision as of 18:55, 22 March 2021 (view source) imported>Seedthrower (Created page with ":'''<span id="4690:2">(2)</span>''' Whenever the real property of a local church, acquired by a conveyance containing the trust clause in 4610, is mortgaged or encumbered...")		Latest revision as of 01:56, 16 November 2022 (view source) Seedthrower (talk \| contribs)
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	:'''<span id="4690:2">(2)</span>''' Whenever the real property of a local church, acquired by a conveyance containing the trust clause in [[4610]], is mortgaged or encumbered as provided for in The Discipline ([[~~4700–4720~~]]), the written approval of the district board of administration for such mortgage or encumbrance ([[4700:3]]) shall constitute a formal recognition of the priority of such mortgage lien and the subordination of the trust clause thereto (~~cf.~~ [[4630]]).		:'''<span id="4690:2">(2)</span>''' Whenever the real property of a local church acquired by a conveyance containing the trust clause in [[4610]] is mortgaged or encumbered, as provided for in ''The Discipline'' ([[4700–4728]]), the written approval of the district board of administration for such mortgage or encumbrance ([[4700:3]]) shall constitute a formal recognition of the priority of such mortgage lien and the subordination of the trust clause thereto ([[4630]]).