Ch. 719                          MARVIN MANDEL, Governor                              1511

72-MONTH PERIOD, IT SHALL BE OBLIGATORY UPON THE
CEMETARY TO COMPLETE IT AT THIS DATE.

[[(E) WHENEVER. ANY PERSON HAS DEPOSITED IN THE
PERPETUAL CARE TRUST FUND AN ADDITIONAL SUM EQUAL TO
THE MINIMUM DEPOSIT REQUIRED TO BE MADE UNDER
SUBSECTION (B) HEREOF, SUCH PERSON SHALL BE PERMITTED,
BUT SHALL NOT BE REQUIRED, TO WITHDRAW A SUM EQUAL TO
THE AMOUNT OF THE REQUIRED DEPOSIT FROM THE PERPETUAL
CARE TRUST FUND, BUT IN NO EVENT SHALL ANY ADDITIONAL
WITHDRAWAL OF PRINCIPAL BE PERMITTED.]]

[[(F)]] (E) THE TERMS OF THE TRUST TO BE ESTABLISHED IN
CONNECTION WITH THE ADMINISTRATION OF THE PERPETUAL
CARE FUND SHALL BE DESIGNATED BY APPROPRIATE WRITTEN
AGREEMENT BETWEEN THE PERSON OWNING, OPERATING, AND
DEVELOPING THE CEMETERY AND THE TRUSTEE, AND THE TERMS
OF THE TRUST INSTRUMENT. INCLUDING THE PROVISIONS WITH
RESPECT TO PAYMENT OVER OF INCOME AND/OR
ACCUMULATION THEREOF ANY OTHER MATTERS AFFECTING
INCOME, INCLUDING ITS REINVESTMENT IF DESIRED, AND ANY
OTHER TERMS RELATING TO THE ADMINISTRATION OF THE
TRUST, THE POWERS OF THE TRUSTEE WITH RESPECT TO
INVESTMENTS AND SIMILAR MATTERS SHALL BE SUCH AS ARE
SATISFACTORY TO THE TRUSTEE AND TO SAID PERSON SO LONG
AS THEY CONFORM WITH THE PROVISIONS OF THIS SECTION. THE
TRUST AGREEMENT SHALL BE IRREVOCABLE. EXCEPT THAT THE
PERSON ENTERING INTO IT SHALL BE PERMITTED, IF HE SO
DESIRES, TO RETAIN THE RIGHT TO REMOVE THE TRUSTEE AND
APPOINT ANOTHER TRUSTEE QUALIFIED UNDER THE PROVISIONS
HEREOF SO TO SERVE; AND THE AGREEMENT MAY PROVIDE FOR
THE APPOINTMENT OF INDIVIDUALS AND SUCCESSOR
INDIVIDUALS TO SERVE AS CO-TRUSTEES WITH A CORPORATE
TRUSTEE.

[[(G)]] (F) ANY INCOME PAID PURSUANT TO THE PROVISIONS
OF THIS SECTION FROM A PERPETUAL CARE TRUST FUND SHALL
BE USED SOLELY AND EXCLUSIVELY FOR PERPETUAL CARE,
INCLUDING THE MAINTENANCE, ADMINISTRATION, SUPERVISION,
AND PRESERVATION OF THE GROUNDS, ROADS, AND PATHS, AND
FOR THE REPAIR AND RENEWAL OF THE BUILDINGS (INCLUDING
MAUSOLEUMS AND COLUMBARIA) AND PROPERTY OF THE PUBLIC
OR PRIVATE BURIAL GROUND OR CEMETERY.

[|(H)]] (G) NO PROVISION HEREOF SHALL BE DEEMED TO
AMEND THE PROVISIONS OF ANY EXISTING TRUST AGREEMENT
COVERING PERPETUAL CARE FUNDS, EXCEPT WITH RESPECT TO
APPOINTMENT OF SUCCESSOR TRUSTEES AND/OR CO-TRUSTEES
TO DEPOSIT THEREIN, AND WITHDRAWALS OF INCOME ON SUCH
DEPOSITS MADE THEREIN, PURSUANT TO THE PROVISIONS OF
THIS SECTION AFTER ITS EFFECTIVE DATE.

[[(I)]] (H) NO PROVISION OF THIS SUBTITLE SHALL BE DEEMED
TO REQUIRE A DEPOSIT TO THE TRUST FUND FROM THAT
PORTION OF ANY TRANSACTION THAT APPLIES TO THE SALE OF
BELOW-GROUND EARTH-COVERED CHAMBERS.