Section 458.51 - Sale or mortgage of real estate for re-investment or to pay debts; title, passing to annual conference. - Michigan Statutes

WESLEYAN METHODIST CHURCHES (EXCERPT)
Act 27 of 1905

458.51 Sale or mortgage of real estate for re-investment or to pay debts; title, passing to annual conference.

Sec. 11.

When it shall become necessary for the payment of debts, or with a view to re-investment, to make a sale or mortgage of any real estate belonging to said church, the members of the church, by a 2/3 majority of the same, who are present and voting, may authorize a sale or mortgage of said real estate by the trustees of said church, who, when so authorized, may sell and convey or mortgage said property, and with the proceeds of such sale or mortgage pay the debts of such corporation, or re-invest 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 9 of this act, as said trustees may be directed by the church. In all cases where property belonging to any church incorporated under the provisions of this act has been abandoned and is no longer used for the purpose for which said property was acquired, or said corporation has dissolved, or has ceased to exist, the title to said property belonging to said corporation, together with all property rights which were in such corporation at the time it was dissolved, shall pass to the annual conference within the bounds of which said property is located, and said annual conference may proceed as in section 7 of this act.

History: 1905, Act 27, Imd. Eff. Mar. 22, 1905 ;-- CL 1915, 11054 ;-- CL 1929, 10869 ;-- CL 1948, 458.51