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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. In each province ethical norms shall be established for the assessment and investment of monies. The prior provincial together with his council should see to this task, having consulted the economic council and promoter or provincial commission for Justice and Peace. Taking these norms into account, the provinces and houses should consider in which banks it is right to deposit their funds (cf. § III) and in which companies it is right to invest.
  3. 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.
  4. The bank must be chosen by the administrator him self with the consent of the superior.
Start Date
20101001