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ROBERT L. EHRLICH, JR., Governor Ch. 348
(4) This subsection does not apply to the sale of a second right of
interment or the resale of a right of interment in a burial lot, above-ground crypt, or
niche for which the cemetery already has paid into the perpetual care trust fund the
deposit required by this subsection.
(f) (1) The perpetual care trust fund authorized by this subsection shall be a
single purpose trust fund.
(2) In the event of the bankruptcy or insolvency of, or assignment for the
benefit of creditors by, or an adverse judgment against the sole proprietor registered
cemeterian [or], permit holder, OR ANY OTHER PERSON SUBJECT TO THE TRUST
REQUIREMENTS OF THIS SUBTITLE, the perpetual care trust funds may not be made
available to any creditor as assets of the sole proprietor registered cemeterian [or],
permit holder, OR ANY OTHER PERSON SUBJECT TO THE TRUST REQUIREMENTS OF
THIS SUBTITLE or as payment for any expenses of any bankruptcy or similar
proceedings, but shall be retained intact to provide for the future maintenance of the
cemetery.
(3) The perpetual care trust fund is not subject to judgment, execution,
garnishment, attachment, or other seizure by process in bankruptcy or otherwise, or
to sale, pledge, mortgage, or other alienation and is not assignable.
(g) A sole proprietor registered cemeterian [or], permit holder, OR ANY OTHER
PERSON SUBJECT TO THE TRUST REQUIREMENTS OF THIS SUBTITLE shall maintain
in the office of the cemetery a copy of the most recent trust report filed with the office
of the cemetery under § 5-605 of this subtitle and shall make the report available for
inspection by an owner or a prospective purchaser of a right of interment in a burial
lot, above-ground crypt, or niche.
5-603.
(c) A trustee may not use any perpetual care trust funds required to be held in
trust in accordance with this subtitle to:
(1) purchase an interest in any contract or agreement to which the
registrant [or], permit holder, OR ANY OTHER PERSON SUBJECT TO THE TRUST
REQUIREMENTS OF THIS SUBTITLE, or any entity owned or under the control of a
registrant, permit holder, OR ANY OTHER PERSON SUBJECT TO THE TRUST
REQUIREMENTS OF THIS SUBTITLE, or a spouse, child, parent, or sibling of a
registrant OR ANY OTHER PERSON SUBJECT TO THE TRUST REQUIREMENTS OF THIS
SUBTITLE is a party; or
(2) make any loan or direct or indirect investment of any kind:
(i) to any registrant [or], permit holder, OR ANY OTHER PERSON
SUBJECT TO THE TRUST REQUIREMENTS OF THIS SUBTITLE or to any spouse, child,
parent, or sibling of a registrant OR ANY OTHER PERSON SUBJECT TO THE TRUST
REQUIREMENTS OF THIS SUBTITLE;
(ii) to or in any entity or business operations owned or under the
control of a registrant, permit holder, OR ANY OTHER PERSON SUBJECT TO THE
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