LCMS Convention Proceedings St. Louis, Missouri — 1979, Page 123

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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.