Application of money held for congregational purposes
12 Application of money held for congregational purposes
All moneys arising from the sale or mortgage, calling in or conversion of any lands, tenements, and hereditaments, and personal property held by the Commissioners in trust for any congregation, and the net rents, profits, and income of such lands, tenements, hereditaments, and personal property, and all other moneys coming to the hands of the Commissioners for the benefit of, or in trust for any congregation, shall from time to time be paid or applied in accordance with the directions of the Committee of Management of the congregation for which such lands, tenements, and hereditaments, personal property, and moneys are held in trust, and the receipt of the Treasurer for the time being of such Committee of Management for any such moneys, rents, profits, and income shall effectually discharge the Commissioners therefrom, and from being bound to see to the application or being answerable for the loss or misapplication thereof.
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