Russ McClure asks in the +++Positives+++ group about what happens if the school closes.
Now Russ should read WutBJU. We’ve had this information for years.
Article XI. Dissolution of Corporation and Liquidation of the University
Section 1. In the event the time should ever come when the Board determines that it cannot maintain the positions outlined in the preamble, bylaws, or policies or the operation of the University is no longer feasible, the Executive Committee shall be authorized to close the University and dispose of the property with the approval of the Board of Trustees. The Executive Committee shall function as the representative agent of the Board of Trustees to find a suitable buyer for the property. The Executive Committee is not authorized to accept any offer without the approval of the Board of Trustees.
Proceeds from the sale will be used first to settle any outstanding financial obligations of the University, for teach-out purposes and then to compensate present employees with a generous severance payment based on years of service and merit. The remainder will go to ministries that are aligned spiritually and philosophically with the founding purposes of Bob Jones University. These ministries will be chosen by the Board of Trustees.
Section 2. The Executive Committee is charged with the duty of enforcing the above provision. The Executive Committee shall have the power to call a meeting of the Board when, in their sound judgment, it appears that the University can no longer be operated in accordance with the principles set forth herein or if the pulpit or classroom ever departs from the University creed, embraces a non-propositional or allegorical view of the Scriptures or an evolutionary view of creation, or ceases to believe that "whatever the Bible says is so." The majority of the Board of Trustees, in pursuit of this notice, is mandated and directed to carry out the above provisions for the dissolution of the corporation and the liquidation of the property. The vote to dissolve the corporation will be made by the Board of Trustees. For this vote, at least twenty (20) members shall be required and must be in personal attendance.
Now that’s the version from November 2013. I have earlier versions as well, and it’s fairly consistent. If you’d like to see the earlier versions, I can show you those. Just ask!
But Bruce McBride, honey. No. Furman University will not be buying that campus. First of all, have you BEEN to Furman’s campus? They don’t need BJU’s hand-me-downs.
The chatter around Greenville for years has been Knox White wants 29614 for the city buildings.















