# LCMS Convention Workbook_St. Louis Missouri_1981_S70
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

TASK FORCE

2.89

c. The Board of Directors shall make final deter-
mination in the event that conflicts develop in the
plans and policies of two or more boards or commis-
sions of the Synod.

2.90

b. The Board of Directors shall be authorized to
draw on the treasury of the Synod for its expenses.

2.87 Powers and Duties with Respect to the
Property of the Synod

The Board of Directors, except as otherwise pro-
vided in these Bylaws, shall have such authonity and
responsibility with respect to the property of the
Synod as is generally vested in and imposed upon the
board of directors of a corporation. The Board of
Directors (1) shall, however, delegate to District
boards of directors the authority to buy, sell, and
encumber real and personal property in the ordinary
course of performing the functions which the District
carries on for the Synod, consistent, however, with
general policies (which shall be applicable to all
Districts) established from time to time by the Synod
in convention, and (2) may delegate to any agency
engaged in furthering the objectives of the Synod
powers and duties with respect to property for which
such agency has direct supervisory responsibility.
(Such delegation of powers and duties shall be in
writing and shall be subject to change at any time by
the Board of Directors.) For the purposes of this
section 2.87,

a. “Synod” includes every agency engaged in
furthering the objectives of the Synod;

b. ‘‘agency engaged in furthering the objectives of
the Synod” is any instrumentality other than a
congregation, whether or not separately incorporated,
which the Synod or one of its agencies has caused to
be formed to further the Synod’s objectives, and
includes without limitation each board, commission,
seminary, college, and District, and Concordia Pub-
lishing House, Concordia Historical Institute, and
The Lutheran Church—Missouri Synod Foundation;
an

c. “property of the Synod” includes all property,
real or personal, tangible orintangible, and wherever
situated (whether in the United States or elsewhere),
and regardless of whether title to such property is
held in the name of the Synod or its nominee or one of
its agencies, provided, however, such shall not include
any assets of the Lutheran Church Extension Fund—
Missouri Synod, and provided further that property
held by an agency in a fiduciary capacity (including,
for purposes of example, the pension funds held by
the Board of Trustees, the retirement and welfare
funds administered by the Board of Managers, and
certain funds held by The Lutheran Church—Mis-
souri Synod Foundation) shall not be considered or
treated as the property of the Synod.

2.85

d. Capital-Fund Borrowing Authority

1. The Board of Directors shall be empowered to
authorize the synodical Treasurer to borrow capital
funds after the board has determined the amounts
and the conditions under which these capital funds
shall be borrowed, for capital-fund outlay, for site
acquisiton, and for construction projects which are
authorized by synodical conventions.

c. have authority and responsibility with respect
to the property of the Synod; establish policies for
property acquisitions, maintenance, and sales, and
for the protection of the property of the Synod; and
provide insurance programs. The Board of Directors
(1) shall, however, delegate to District boards of
directors and to Lutheran Church Extension Fund—
Missouri Synod the authority to buy, sell, and
encumber real and personal property in the ordinary
course of performing the functions which they carry
on for the Synod and (2) may delegate in writing to
any agencies of the Synod powers and duties with
respect to property for which they have direct super-
visory responsibility;

“Synod” includes every agency engaged in fur-
thering the objectives of the Synod. ‘Property of the
Synod” includes all property, real or personal, tan-
gible or intangible, and wherever situated (whether
in the United States or elsewhere), and regardless of
whether title to such property is held in the name of
the Synod or its nominee or one of its agencies,
provided, however, that property held by an agency
in a fiduciary capacity (including, for purposes of
example, the pension, retirement, and welfare funds
administered by the Board of Managers, and certain
funds held by the Lutheran Church—Missouri Synod
Foundation) shall not be considered or treated as the
property of the Synod;

d. establish fiscal management policies and re-
view or provide for the review of the operating policies
and procedures of the Treasurer, who is the trust
officer of the Synod, and ofall boards and agencies of
the Synod serving in a trustee capacity, and their
performance thereunder;

e. establish in consultation with the affected
agencies the policies for all borrowing of funds, other
than from the Lutheran Church Extension Fund—
Missouri Synod, by the Synod and its Districts,
colleges, seminaries, and other agencies and on the
basis of such policies authorize all such borrowing for
capital purposes and any pledging of assets;