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New Jersey Statutes, Title: 16, CORPORATIONS AND ASSOCIATIONS, RELIGIOUS
Chapter 10a: The United Methodist Church; power to assume and use name; existing rights, powers, etc., not affected
Section: 16:10a-12: Proceeds from sale or mortgage not available for current church expense
The real estate on which a church building or parsonage of a local church of The United Methodist Church is located shall not be mortgaged or encumbered to provide for the current expense of such church, nor shall the principal of the proceeds of the sale of any such property be so used.
L.1968, c. 235, s. 11, eff. July 31, 1968.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 16:10a-12 (if available):
Court decisions that cite this statute:
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