# LCMS Convention Workbook_St. Louis Missouri_1981_S95
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

TASK FORCE

consist of the President or his representative, the
Treasurer of the Synod, and five laymen to be ap-
pointed by the Board of Directors.

9.27 Duties and Powers

The board shall manage, conserve, and be respon-
sible for all legacies, bequests, devises, endowments,
foundations, annuity gifts, and all other trust funds
of the Synod and of the Synod’s institutions and
activities. It shall have power to buy, sell, invest in,
and reinvest in securities in accordance with rules
drafted by the board and approved by the Board of
Directors.

9.29 Executive Committees

The board shall be authorized to appoint such
executive committees from its own membership as it
may find necessary for the efficient and punctual
performance of its duties; but it shall be responsible to
the Board of Directors for the actions of such com-
mittees as well as for its own actions.

9.31 Relation to the Foundation

Nothing contained in 9.21—9.29 shall apply to the
funds, devises, bequests, legacies, endowments, foun-
dations, annuity gifts, investments, and trust funds
of The Lutheran Church—Missouri Synod Founda-
tion, a subsidiary corporation of The Lutheran
Church—Missouri Synod.

Cc. ANNUITIES
9.41 The Synod’s Policy

Annuity agreements may name as ultimate bene-
ficiary any activity of the Synod or one of its Districts,
which activity is operated by, or is solely under the
control of, the Synod or one of its Districts.

9.43 Annuity Agreements

Annuity agreements may be made with individual
annuitants (single-life agreements) or with two
annuitants (joint or survivorship agreements).

9.45 Annuity Rates

The annuity rates payable to annuitants shall be
fixed by the Board of Directors.

9.47 Administration of Funds

The annuity funds shall be administered by the
Treasurer of the Synod.

2.61 Missouri Synod Foundation

The above sections 2.45 to 2.59 shall not apply to
the office of the treasurer of The Lutheran Church—
Missouri Synod Foundation, a subsidiary corporation
of The Lutheran Church—Missouri Synod, nor to the
funds, devises, bequests, legacies, endowments,
foundations, annuity gifts, investments, and trust
funds of The Lutheran Church—Missouri Synod
Foundation.

10.19 Personnel and Appointment

The Board of Managers shall be appointed by the
Board of Directors of the Synod and shall be composed
of seven persons as follows: four laymen, two min-
isters of religion from the roster of Missouri Synod
pastors, and one minister of religion from the roster of
Missouri Synod men teachers.

10.21 Term of Office; Resignations; Removal
The term of office shall be 4 years. Appointments

95

any qualified deferred-gift devices by the Synod’s
Department of Stewardship and Financial Support
and the development staffs of the Synod’s Districts,
colleges, seminaries, and agencies and (2) the accept-
ance of the same by the Foundation. The Department
of Stewardship and Financial Support shall be con-
sulted in the development of such policies.

c. The Treasurer, as the trust officer of the Synod,
shall provide staff services to the Foundation. In this
capacity he shall function under the bylaws and
written policies of the Foundation as well as those of
the Board of Directors of the Synod and be account-
able to the same.

d. The Foundation shall distribute designated
funds in accordance with the contractual instructions
of the donor. The distribution of undesignated funds
shall be determined by the Members of the
Foundation.

e. The Foundation shall be audited annually by
independent certified public accountants selected by
the Members of the Foundation. The audit report
shall be made available upon request. The auditors
shall also provide the members an annual letter
commenting on the administrative and financial
controls.

2.677 Other Foundations

Since the Foundation serves all of the Synod, no
new foundations shall be established by Districts,
colleges, seminaries, and agencies without prior
approval of the synodical Board of Directors.

(Delete)

(Delete)

6. Worker Benefit Plans
2.681 Board of Managers

The Board of Managers—Worker Benefit Plans
shall consist of 11 members, 10 of whom shall be
appointed by the Board of Directors: two parish
pastors, one teacher, and seven laypersons, at least
three of whom should be experienced in the design of
employee-benefit plans and the others in the man-
agement of benefit-plan investments. The Treasurer
of the Synod shall be the 11th member.

When the Board of Managers is carrying out its