|
Grace Bylaws - A1. Statement of Purpose |
|
|
|
Page 4 of 14 D1. Powers of the Congregation
D1.01 Contract Value Requiring Board of Directors Approval
No individual or group affiliated with the Community of Grace shall enter into a contract with a value of greater than fifty thousand dollars ($50,000.00) without a resolution adopted by not less than a majority vote of the of the Community of Grace Board of Directors present at a legally called and conducted meeting of the Board.
D1.02 Contract Value Requiring Congregation Approval
No individual or group affiliated with the Community of Grace shall enter into a contract with a value of greater than one million dollars ($1,000,000.00) without a resolution adopted by not less than a majority ballot vote of the voting members present at a legally called and conducted meeting of this congregation.
D1.03 Indebtedness
The highest amount of indebtedness or liability to which this congregation shall at any time subject itself to shall be twenty million dollars ($20,000,000.00) without a resolution adopted by not less than a majority ballot vote of the voting members present at a legally called and conducted meeting of this congregation.
D1.04 Property Ownership
Real property of value greater than five hundred thousand dollars ($500,000.00) shall not be purchased, disposed, or encumbered in any manner except by resolution adopted by not less than a majority ballot vote of the voting members present at a legally called and conducted meeting of this congregation.
|
