JEFFERSON CITY, Mo. — The Missouri Baptist Convention (MBC) has received a $5 million partial settlement in its legal efforts to restore the Missouri Baptist Foundation as an entity accountable to the convention.
The foundation was one of five subsidiary corporations which broke from the convention from 2000 to 2001, changing their charters to create self-perpetuating trustee boards.
The MBC Executive Board approved a $5 million payment from Church Mutual Insurance Company in an executive session during its Dec. 8–9, 2014, meeting in Jefferson City, Mo. The settlement with Church Mutual is to be applied toward financial losses and attorney’s fees accrued by the convention.
The company remitted the $5 million payment to the convention Jan. 6.
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