A religious society or religious corporation formed under the provisions of this part may by a vote of two-thirds of those members present at a meeting duly warned and held for that purpose be dissolved. After all of its liabilities and obligations have been paid, satisfied and discharged, or adequate provision made therefor, the assets of such religious society or religious corporation shall be distributed in accordance with the provisions of its charter or bylaws or, if no such provision is made, then in accordance with the vote of its members but only to another religious society, religious corporation or other organization formed for public worship or for ecclesiastical, missionary, charitable or educational purposes, provided property held pursuant to the provisions of section 47-2 shall continue to be held for such purposes and, where the rules and regulations of the denomination with which such religious society or religious corporation is affiliated provide to the contrary, such assets shall be distributed in accordance with such rules, regulations and ordinances. No property of a religious society or religious corporation shall be distributed to its members.
(1969, P.A. 314, S. 5.)
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