# LCMS Convention Proceedings_St. Louis Missouri_1938_S273
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

Financial Matters 278

“Resolved by the Evangelical Lutheran Synod of Missouri,
Ohio, and Other States, in convention assembled at the city of
Cleveland, Ohio, June 19—28, 1935, that the Board of Directors be,
and it hereby is, authorized and empowered,

“First, to cause domestic corporations to be created in all
States where the Synod as a foreign corporation cannot legally
hold title to real estate and also in States where the property of for-
eign corporations is subject to taxation;

“Secondly, in the name of Synod to convey to such domestic
corporations by warranty deed or otherwise the title to real estate
now standing in the name of Synod and situated in States where
a foréign corporation cannot legally hold title to real estate, and
to domestic corporations in the States where the property of
foreign corporations is subject to taxation.

“Thirdly, to procure the advice of competent legal counsel
in the matters herein mentioned and to make provision that the
interests of Synod be properly safeguarded.” (Proceedings 1935,
p. 194 f.)

Dr. Seuel and Mr. Schlueter were appointed a Committee for
Incorporation Matters, with Mr. Geo. Eigel as special attorney. The
charter for the Bronxville Collegiate Institute was approved under
the condition that the Board of Trustees of the Institute be elected
by Synod and the control of the property by Synod be safe-
guarded. After other minor changes were made, the charter was
officially approved by the Board of Directors. Our committee is
continuing further investigation as to various charters with a view
to clearing up these matters according to synodical resolution.

2. Regulations for the Board of Trustees for Synod’s Trust
Funds.

“1) A Board of Trustees of Synod’s Trust Funds shall be
created by the Board of Directors of Synod.

“2) This Board of Trustees shall be charged with the duty
and responsibility of holding in trust, managing, and conserving
all legacies, bequests, endowments, foundations, annuity gifts, and
all other trust funds of Synod. To this end it shall be authorized
and empowered to buy, sell, invest in, and reinvest in, securities
in accord with rules to be adopted under Paragraph 6 of these
regulations.

“3) The Board of Trustees of Trust Funds shall consist of
seven (7) members of Synod: the President or one of the Vice-
Presidents of Synod, the Treasurer of Synod, and five (5) mem-
bers to be chosen from the laity of Synod.

“a. The President or one of the Vice-Presidents of Synod shall

18