1742. Real Estate and Buildings--The United Methodist Publishing House shall not buy any real estate costing in excess of $500,000 and shall not sell or exchange any real estate having a fair market value in excess of $500,000 except by the order of the General Conference or, between sessions of the General Conference, by a two-thirds vote of all the members of the board. In either case such vote shall be taken at a regular or called meeting of the board, and if at a called meeting, the purpose of this meeting shall have been stated in the call. The erection of a new building or improvement, alteration, or repair of an existing building or the purchase of real estate for retail purposes involving an expenditure of not more than $500,000, or the sale or exchange of real estate used by the publishing house for retail purposes which has a fair market value of not more than $500,000, may be authorized by the vote of a majority of the executive committee. These provisions shall not prevent the making of investments on mortgage security or the protection of the same or the collection of claims and adjustments.
General Conference Webmaster: Susan Brumbaugh
PETS Creator: John Brawn
1992 Book of Discipline: ¶ 1742
1996 United Methodist General Conference