Canon 1049

The hierarch who constituted a pious foundation or gave his consent to the acceptance of one, immediately designates a safe

place in which money and movable goods assigned as an endowment

will be deposited, so that the money or the value of the movable

goods is safeguarded; as soon as possible, they are to be carefully and profitably invested for the benefit of the foundation

with an express and specific mention of the obligations undertaken; the investment is to be made in accordance with the prudent judgment of the hierarch, who is to consult the interested

parties and the appropriate council.