Amendment status not verified — confirm the current text below against the official source.
Trustee not to lend or borrow money without sanction - A trustee or an Executive Office or other person who is in charge of the administration of a charitable or religious institution or endowment, shall not lend or borrow money on behalf of the charitable or religious institution or endowment, except with the sanction of such authority, and subject to such conditions, as may be prescribed.