Statutes, codes, and regulations
New Jersey Statutes
Title 16 - CORPORATIONS AND ASSOCIATIONS, RELIGIOUS
Chapter 16:10A - 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

N.J. Stat. § 16:10A-12

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Current through L. 2024, c. 80.
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.

N.J.S. § 16:10A-12

L.1968, c.235, s.11, eff. 7/31/1968.