(1) When an organized organization established in accordance with the law transfers immovable property under its name, if the board of directors of such organized organization decides and authorizes a member of the board of directors or an employee of that organization to transfer the property, such person may transfer the property on behalf of the organized organization.
(2) In the case of purchasing or acquiring immovable property in the name of an organized organization, if the procedure under sub-section (1) is completed, the property can be purchased or acquired in the name of such organization.