Section IV. The Methodist Corporation
2512. 1. The General Council on Finance and Administration shall be the successor to all right, title, and interest in and to all assets of The Methodist Corporation for the following purposes: to hold, to manage and/or to liquidate such assets if and when it concludes that it is not in the best interest of The United Methodist Church to undertake a development of or further holding of the property.
2. The members of the General Council on Finance and Administration shall constitute the Board of Directors of The Methodist Corporation, which shall be continued as a legal entity until such time as said board shall deem it desirable and convenient to liquidate the corporation, at which time it is empowered and authorized to take the necessary corporate action to effect the surrender of its charter or to merge, consolidate, or affiliate it into or with the General Council on Finance and Administration, a corporation.
3. Upon the liquidation of the assets of The Methodist Corporation, the resulting fund, after the payment and satisfaction of all debts, shall be conveyed, assigned, and transferred by the General Council on Finance and Administration to such religious, charitable, scientific, literary, or educational organization or organizations as the General Conference of The United Methodist Church shall direct. No funds or property shall be distributed among or inure to the benefit of any private shareholder or individual.
General Conference Webmaster: Susan Brumbaugh
PETS Creator: John Brawn
1992 Book of Discipline: ¶ 2512
1996 United Methodist General Conference