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This entry was published on 2014-09-22
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SECTION 10
Acquisition of property by two or more religious corporations for a common parsonage
Religious Corporations (RCO) CHAPTER 51, ARTICLE 2
§ 10. Acquisition of property by two or more religious corporations
for a common parsonage. Two or more religious corporations may acquire
such real property as may be necessary for use as a parsonage, and the
right, title and interest of each corporation therein shall be in
proportion to its contribution to the cost of such property. The
trustees of each corporation shall, from time to time, appoint one of
their number to be a trustee of such common parsonage property, to hold
office during the pleasure of the appointing trustees or until his
successor be appointed. The trustees so appointed shall have the care
and management of such property and may make such improvements thereupon
as they deem necessary, and determine the proportion of the expense of
the maintenance thereof which each corporation shall bear. If at any
time either of such corporations acquires or desires to acquire for its
own exclusive use as a parsonage other real property, it may, in
pursuance of the provisions of law, relating to the disposition of real
property by religious corporations, sell and convey its interest in such
common parsonage property to any one or more of the other corporations
having an interest therein.