Indiana Statutes
§ 23-14-51-4 — Fidelity bond
Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 14 CEMETERY ASSOCIATIONS·Ch. 51 The Investment and Use of Cemetery Funds
(a)This section applies to a cemetery if a
perpetual care fund or other trust account of the cemetery is not held in
trust for the cemetery by a corporate trustee.
(b)The treasurer of the cemetery or other person or persons having
custody of the fund or account shall furnish to a cemetery to which this
section applies a fidelity bond that is:
(1)issued by a corporate surety; and
(2)payable to the cemetery in a penal sum at least equal to one
hundred twenty-five percent (125%) of the value of the principal
of the trust estate at the beginning of each calendar year.
(c)The bond required by this section shall be deposited with the
auditor of the county in which the cemetery is located. The auditor
shall do the following:
(1)Examine the bond and ascertain that it complies with this
chapt
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Legislative History
As added by P.L.52-1997, SEC.25.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"