SECTION 1. (a) The Diocesan Council may authorize the acquisition in the name of the Diocese of any real property, movable property, including stocks, bonds, securities and other choses in action, but not limited thereto, by purchase, donation, exchange, lease or otherwise.
(b)23 The Diocesan Council, with the consent of the Ecclesiastical Authority, may authorize the sale, transfer, exchange, mortgage, lease, pledge or any other disposition of any real property, moveable property, including stocks, bonds, securities and other choses in action, but not limited thereto, where title is vested in the Diocese or intended to be so vested, provided said property is not in the custody and control of the Board of Trustees of the Diocese as established by these Canons.
(c) The resolutions authorizing actions under sub-sections (a) and (b) of SECTION 1 shall designate the person or party by name or office who shall represent the Diocese in said transactions.
SECTION 2. The Diocesan Council shall report annually to the Convention all actions taken under provisions of this Canon during the preceding year.