Resolved, That Subsection (1) of Canon I.6.1 be amended
- by deleting the present Paragraph one (1) of Subsection (1) and inserting a new Paragraph one (1) as follows:
(1) Funds held in trust, endowment and other permanent funds, and securities represented by physical evidence of ownership or indebtedness, shall be deposited with a National or State Bank, or a Diocesan Corporation, or with some other agency approved in writing by the Finance Committee or the Department of Finance of the Diocese, under a deed of trust, agency or other depository agreement providing for at least two signatures on any order of withdrawal of such funds or securities.
- by adding a new Paragraph three (3) to Subsection (1) as follows:
This paragraph shall not be deemed to prohibit investments in securities issued in book entry form or other manner that dispenses with the delivery of a certificate evidencing the ownership of the securities or the indebtedness of the issuer.
