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Lane at Mar 05, 2019 03:02 PM





There shall be a Treasurer of University Funds appointed in
each Diocese, by the Convention of the same, who, when confirmed
by the Board of Trustees, shall hold his office for three years from
the time of his election, and continue in office until his successor
shall have been elected and given bond. Such Treasurer
shall give bond and security to the "University of
the South" in such sum as shall be required by the Board
of Trustees from time to time. Such Treasurer shall receive the
cash, notes, bonds, stock, titles to lands or other property obtained
as subsription in that Diocese: and it shall be his duty in con-
junction with the lay Trustees of the Diocese, to invest the cash
and all moneys which shall be derived from the realization of the
above mentioned private securities, in the best public securities, or
other safe investments, paying over to the Treasurer of the Uni-
versity the interest of the amount subscribed, in such manner as
shall be prescribed by the Board of Trustees, and his accounts
shall be rendered to the Board of Trustees at their annual session.
The Board of Trustees shall prescribe rules and regulations for the
management, safe-keeping and transmission of the funds in the
hands of the Diocesan Treasurers, and shall fix their compensation.

In case of a vacancy in the office of any Treasurer, either of the
University or of a Diocese, the Board of Trustees shall be author-
ized to provide, by statute, a mode of filling such vacancy until a
regular election.