|The People of God » Institutes of Consecrated Life and Societies of Apostolic Life » Institutes of Consecrated Life » Religious Institutes » The governance of institutes » Temporal goods and their administration|
|§1. If a juridic person has contracted debts and obligations even with the permission of the superiors, it is bound to answer for them.
§2. If a member has entered into a contract concerning his or her own goods with the permission of the superior, the member must answer for it, but if the business of the institute was conducted by mandate of the superior, the institute must answer.
§3. If a religious has entered into a contract without any permission of superiors, he or she must answer, but not the juridic person.
§4. It is a fixed rule, however, that an action can always be brought against one who has profited from the contract entered into.
§5. Religious superiors are to take care that they do not permit debts to be contracted unless it is certain that the interest on the debt can be paid off from ordinary income and that the capital sum can be paid off through legitimate amortization within a period that is not too long.
Page generated in 0.0012 seconds.
Website code © 2019 (MIT License). Version 2.7.2, last updated February 17, 2019. FAQ