USCCB, Particular law on canon 1277 on acts of extraordinary administration by a diocesan bishop, 3 March 2010.
Canon 1277 - Acts of Extraordinary Administration by Diocesan BishopOn November 13, 2007, the members of the United States Conference of Catholic Bishops legitimately approved complementary legislation for the implementation of canon 1277 of the Code of Canon Law for the dioceses of the United States. In accord with article 82 of the Apostolic Constitution Pastor Bonus, the action was granted recognitio by the Congregation for Bishops in a decree dated December 19, 2009 (N. 778/2005), and signed by His Eminence Giovanni Battista Cardinal Re, Prefect, and Monsignor Giovanni Maria Rossi, Subsecretary.
Wherefore, the United States Conference of Catholic Bishops, in accord with the norm of canon 1277, decrees that the following are to be considered acts of extraordinary administration, the canonical validity of which requires the diocesan bishop to obtain the consent of the diocesan finance council and the college of consultors:
1. Initiating a program of financing by the issuance of instruments such as bonds, annuities, mortgages or bank debt in excess of the minimum amount set in accord with canon 1292, §1.
2. Resolving an individual or aggregate claim(s) by financial settlement in excess of the minimum amount set in accord with canon 1292, §1.
3. Engaging in the regular management or operation of a trade or business that is not substantially related to the performance of the religious, spiritual, educational or charitable purposes of the Church, for the purpose of generating income to carry on such activities.
4. Entering into any financial transaction or contractual agreement, the terms of which address matters involving an actual or potential conflict of interest for the diocesan bishop, auxiliary bishop(s), vicar(s) general, episcopal vicar(s), or diocesan finance officer.
As President of the United States Conference of Catholic Bishops, I decree that the effective date of the norms for all dioceses of the United States Conference of Catholic Bishops will be April 5, 2010.
Given at the offices of the United States Conference of Catholic Bishops, in the city of Washington, the District of Columbia, on the 3rd day of March, in the year of our Lord 2010.
Francis Cardinal George, O.M.I.
Archbishop of Chicago
Reverend Monsignor David J. Malloy
General Secretary, USCCB
USCCB, Particular law on canon 1277 on acts of extraordinary administration by a diocesan bishop, 3 March 2010. Accessed 30 December 2015 at: http://www.usccb.org/beliefs-and-teachings/what-we-believe/canon-law/complementary-norms/canon-1277-acts-of-extraordinary-administration-by-diocesan-bishop.cfm