Trustee not to lend or borrow moneys without sanction

No trustee shall either lend moneys of, or borrow moneys for the purpose of, or on behalf of, the religious institution of which he is the trustee except with the sanction of such authority and subject to such conditions and limitations as may be prescribed. Explanation.—For the purposes of this section, trustee includes the executive officer or other person in whom the administration of religious institution is vested.