Skip to main content

560

  1. Entities of the Order are to define in their chapter legislation and/or statutes the proper procedures for financial operations (administration, safe keeping of valuables and negotiables, investments and banking) in a manner suitable to their local conditions (K, n. 384).
  2. Only in banks of assured security may money be deposited and, in accordance with n. 555, it must be deposited in the name of the respective moral person or institute to which it belongs.
  3. The bank must be chosen by the administrator him self with the consent of the superior. To be determined by the statute of administration:
    1. how money deposited into banks may be withdrawn: money deposited in banks may be withdrawn only by checks signed at least by the superior and the administrator, together or separately, in accordance with the statute of administration.
    2. which brothers or administrators, jointly or singly, may sign.