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Session Laws, 1974
Volume 713, Page 1536   View pdf image
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1536                                        LAWS OF MARYLAND                       [Ch. 374

perpetual care trust fund a minimum of fifteen per centum
(15%) of the selling price of each crypt, niche, lot or
interment right sold, and provided further that if ten
thousand dollars ($10,000.00) is not thereby completed by
the end of the seventy-two (72) month period, it shall be
obligatory upon the cemetery to complete it at this date.
Notwithstanding the provisions of subsection (b) of this
section, as to any cemetery the developed land area of
which, as of January 1, 1969, was greater than ten acres,
the $25,000 deposit required by subsection (b) may be
deferred for a period not longer than 72 months fro* the
EFFECTIVE date of this section. Until the $25,000
deposit is completed, such a cemetery shall deposit into
the perpetual care trust fund a minimum of 15% of the
selling price of each crypt, niche, lot, or interment
right sold. However, if the $25,000 deposit is not
thereby completed by the end of the 72—month period, it
shall be obligatory upon the cemetery to complete it at
this date.

(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
cotrustees with a corporate trustee.

167F.

& distributor who has a written marketing agreement
with a dealer shall be liable to the dealer as provided
in SECTION 167-I for the distributor's wrongful or
illegal termination or cancellation of the marketing
agreement during its term.

275.

(e) Nothing in this section affects the
geographical boundaries of parishes (as distinguished

 

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Session Laws, 1974
Volume 713, Page 1536   View pdf image
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