§ 23-14-48-4 — Duties of cemetery organized after March 6, 1953, and before July 1, 1997

(a) In addition to meeting the requirements of
sections 1 through 3 of this chapter, a cemetery that:
(1) is organized after March 6, 1953, and before July 1, 1997, by
incorporation, association, individually, or any other means; or
(2) has its first burial after March 6, 1953, and before July 1,
1997;
shall, before disposing of a burial lot or right, making a sale of a burial
lot or right, or making its first burial, cause to be deposited in a
financial institution the sum of twenty-five thousand dollars ($25,000)
in cash in the perpetual care fund established under this chapter for the
maintenance of the cemetery.
(b) The cemetery owner shall designate the financial institution as
trustee of the fund. The financial institution must execute an affidavit
stating that it has accepted the trusteeship of the fund and that the
twenty-five thousand dollars ($25,000) has been deposited in the fund.
The cemetery shall:
(1) exhibit the affidavit in the principal office of the cemetery;
(2) keep the affidavit available at all times for examination; and
(3) record the affidavit in the miscellaneous records in the office
of the recorder in the county in which the cemetery is located.
(c) When the cemetery has deposited in the perpetual care fund, as
required by this section, fifty thousand dollars ($50,000):
(1) the cemetery shall submit proof of this fact to its trustee; and
(2) the trustee shall pay over to the cemetery the amount of
twenty-five thousand dollars ($25,000) that the cemetery
deposited in the fund under subsection (a).

Legislative History

As added by P.L.52-1997, SEC.22. Amended by P.L.66-1999, SEC.3; P.L.3-2008, SEC.168; P.L.33-2019, SEC.4.