Relating to disaffiliation from religious denominations while retaining property

SB 953 establishes rules for local religious organizations to disaffiliate from a parent denomination while retaining property. It requires a two-thirds vote of the local organization's membership for disaffiliation to be effective. Property is divided into three classes: real estate (each separately deeded parcel is a distinct unit), personal property (e.g., furniture), and intangible assets (e.g., cash or investments). Local groups can keep real estate if over 50% of its acquisition/improvement costs were raised locally (excluding parent funds), but must reimburse the parent for parent investments. The parent denomination must provide a detailed financial accounting within 60 days of a disaffiliation request.