SECTION 1. In every Parish, Mission, School, Home, Corporation and Institution connected with the Episcopal Church in the Episcopal Diocese of Western Louisiana, the following standard business methods shall be observed:
(a) Trust, endowment and permanent funds all securities of whatsoever kind belonging or appertaining to every Mission, School, Home, Corporation and Institution, other than a Parish, connected with the Diocese shall be held, controlled, invested and reinvested for its benefit by the Board of Trustees of the Diocese as instituted by these Canons.
(b) Treasurers and custodians, other than banking institutions, shall be adequately bonded, except treasurers of funds that do not exceed five hundred ($500.00) dollars at any one time during the fiscal year.
(c) Books of account shall be so kept as to provide the basis for satisfactory accounting.
(d) All accounts shall be audited annually by a Certified Public Accountant, or by an Auditing Committee appointed by the Vestry or Mission Council.
(e) Annual reports of all accounts shall be made to the Convention and may be by it referred to the Department of Finance.
(f) All buildings and their contents shall be kept insured adequately.
SECTION 2.34 No Vestry, Trustee, or other body, authorized by Civil or Canon Law to hold, manage or administer real property for any Parish, Mission, Congregation, or Institution, except the Diocese, shall encumber or alienate the same or any part thereof without the written consent of the Ecclesiastical Authority and the Standing Committee of the Diocese.
SECTION 3. It shall be the duty of the Treasurer of this Diocese to see that the foregoing standard business methods are observed.