§ 225-j. Powers of incorporated societies. 1. An incorporated free Methodist church may, under restrictions hereinafter provided, sell, mortgage, or otherwise dispose of or encumber its real estate, but not for current expenses.

Terms Used In N.Y. Religious Corporations Law 225-J

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

2. Said corporation shall at all times permit such ministers belonging to the free Methodist church as shall from time to time be duly authorized by the general conference of said church or by the annual conference, within whose bounds the said corporation may be, to preach and expound God's Holy Word therein; and shall permit pastors and district superintendents duly appointed, to execute the discipline of said free Methodist church and to administer the sacraments therein.