4240–4250

4240. The Wesleyan Church Corporation shall receive and hold in trust by donation, gift, grant, bequest, devise, or otherwise, any property, real, personal, or mixed, in any state in the United States of America or any other country, in behalf of The Wesleyan Church or any of its subsidiary interests, for any benevolent, charitable, religious, or educational purpose and to administer the same and the income therefrom in accordance with the directions of the donor, trustor, or testator and in the interests of the general department, office, institution, agency, society, or other body contemplated by such donors, trustors, or testators, the whole to be under the direction of and amenable to the General Conference (1590:4–5). The board of directors shall have power, with the advice of competent investment counsel, to invest, reinvest, buy, sell, transfer, and convey any and all funds and properties which it may hold in trust, subject always to the terms of the legacy, devise, or donation and shall, whenever it is necessary to do so, determine the use or uses of each such fund or trust which shall correspond with the general intentions of the donor, trustor, or testator.

4250. The General Board as the board of directors shall be authorized and empowered to intervene and institute all necessary legal and equitable actions in the name of The Wesleyan Church Corporation to protect the interests and rights of The Wesleyan Church anywhere, including all matters relating to property and rights to property, whether arising by gift, devise, or otherwise, or where held in trust for the benefit and use of the members and ministers of The Wesleyan Church (1655:21; 4120:3; 4590; 4770; 4870–4880).