III. Fund
3.1 Religious Fund
Article 118 - Religious Fund
A Religious Fund is a type of True Fund, or Superior Fund or Inferior Fund conceived under certain Religious Doctrines and Dogma expressed through a unique Creed or Canons and constituted under some recognized and acknowledged Covenant or Constitution or Charter or Statute as a Religious Body of Spiritual Members.
The essential elements for the claim or existence of a Religious Fund, as distinct from other types of Funds are:
(i) A distinct set of written Religious Doctrines and Dogma expressed through a unique Creed or Canons compared to other Religious Funds of the same general denomination or of completely different faiths; and
(ii) Unique Spiritual Rights or Property identified by the written Doctrines and Dogma to which the Members claim custody, possession, authority and jurisdiction; and
(iii) A defined, written and executed Covenant or Constitution forming the Religious Body of the Religious Fund and defining the rights and nature of Spiritual Members and the vesting of the unique Spiritual Rights and Property of the Fund; and
(iv) One or more Spiritual Members who have pledged themselves by Oath to the constituting Body; and
(v) Acknowledgment of the Constitution, name and Fund by the Statutes, or Will or Testament of the higher Estate or Trust.
The acknowledgment of a Religious Fund by the higher Estate or Trust in which it was formed is a key element determining the validity of a Religious Fund compared to a pure religious body or entity.


