Court Divides Endowment Between San Joaquin Dioceses

http://www.livingchurch.org/news/news-updates/2008/8/27/san-joaquin-placeholder

[The Living Church] 28 Aug 2008--A California Superior Court judge ordered that endowment assets be divided between the two dioceses of San Joaquin in a decision filed Aug. 25.

Last December, deputies to the annual convention of the Episcopal Diocese of San Joaquin voted overwhelmingly to disaffiliate from the General Convention and to come under the primatial oversight of the Anglican Church of the Southern Cone in South America. In March, Presiding Bishop Katharine Jefferts Schori reconstituted an Episcopal Diocese of San Joaquin consisting of those clergy, parishes and individuals that did not wish to leave. The Episcopal diocese sued the Anglican diocese in June for control of the endowment.

In his order and stipulation decree, Judge Adolfo M. Corona awarded some endowment accounts to the Episcopal Diocese of San Joaquin and other accounts to the Anglican Diocese of San Joaquin. Drawing from some endowment accounts will require the consent of both dioceses. The court will retain an oversight interest in management and expenditures from the endowment funds.