# LCMS Convention Proceedings_St. Louis Missouri_1979_S123 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) a tonic aN ARE, 4. ADMINISTRATION To Provide for Separate Incorporation of Lutheran Church Extension Fund—Missouri Synod RESOLUTION 4-01A Report 1-03 (CW, p. 46); Overture 4-23 (CW, p. 141) WHEREAS, On June 15, 1978, the Lutheran Church Extension Fund—Missouri Synod was established as a separate corporation under the laws of the State of Missouri; and WHEREAS, Such formation of said separate corpor- ation was formed after consultation and advice of the Board of Directors of the Synod, the Commission on Constitutional Matters, the Council of Presidents, Dis- trict Church Extension boards, the Synod’s legal coun- sel, and District Church Extension representatives; and PRESENT WORDING 2.87 Powers and Duties with Respect to the Property of the Synod 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 orits nominee or one of its agencies, provided, however, that property held by an agency in a fiduciary capacity (including, for purposes of example, the pensions 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— Missouri Synod Foundation) shall not be considered or treated as the property of the Synod. 8.51 Board for Church Extension The Board for Church Extension shall consist of eight members—two pastors, two teachers, and four laymen—who shall be elected by the convention and shall have an understanding of the Church Exten- sion program and/or demonstrate an expertise in fields and areas closely related to Church Extension activities, such as knowledge of real estate manage- ment and financial planning. The Treasurer of the synod shall be an ex-officio member of the board. 123 WHEREAS, Borrowing and lending for Church Exten- sion purposes, and administration of the advance-site program, as previously carried out by the Synod’s Board for Church Extension, are now being conducted by the newly established Lutheran Church Extension Fund—Missouri Synod; and WHEREAS, Supervision, coordination, and regulation of all District Church Extension programs will, to the same extent as in the past, be provided as long as necessary by the Synod’s Board for Church Extension, operating under the Synod’s Bylaws; therefore be it Resolved, That the Missouri Synod in convention ratify the formation of a separate corporation, Lutheran Church Extension Fund—Missouri Synod, a Missouri corporation as formed June 15, 1978; and be it further Resolved, That the following Bylaw changes be made and adopted: PROPOSED WORDING 2.87 Powers and Duties with Respect to the Property of the Synod 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 orits nominee or one of its agencies, provided, however, such shall not in- clude 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—Missouri Synod Foundation) shall not be considered or treated as the property of the Synod. 8.51 The Lutheran Church Extension Fund— Missouri Synod a. The Lutheran Church Extension Fund— Missouri Synod as established on June 15, 1978, asa separate corporate entity under the laws of the State of Missouri is operated by its members and board of directors, in accordance with its articles of incorpor- ation and corporate bylaws, to further the objectives and duties of the Church Extension Fund within the Synod. b. Until such time that all Districts of the Synod conduct the Church Extension activities through Lutheran Church Extension Fund—Missouri Synod, there shall also be a Board for Church Extension of The Lutheran Church—Missouri Synod, the func- tions and duties of which are set forth in Section 8.57 ff. of these Bylaws. c. The Board of Directors for Lutheran Church Extension Fund—Missouri Synod shall consist of nine individuals—two pastors, two teachers, and four laymen. Eight of the directors shall be elected by the members and shall have an understanding of the Church Extension program and/or demonstrate an expertise in fields and areas closely related to Church Extension activities, such as knowledge of real estate, management, and financial planning. The Treasurer of the Synod shall also be a member of the board and the treasurer of the fund. The results of such elections shall be ratified by the Synod at its next convention.