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PARRIS N. GLENDENING, Governor
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Ch. 195
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[(3)] (4) A cemetery created in the State after October 1, 2001, that is
not exempt under § 5-601 of this subtitle shall be required to establish a perpetual
care trust fund.
(c) Each sole proprietor registered cemeterian or permit holder initially shall
deposit in the perpetual care trust fund at least:
(1) [$10,000] $25,000, if the developed land area of the cemetery is 10
acres or less AND THE CEMETERY IS A NONPROFIT CEMETERY WHICH DOES NOT
SELL BURIAL GOODS; or
(2) [$25,000] $50,000, if the developed land area of the cemetery is more
than 10 acres AND THE CEMETERY IS A NONPROFIT CEMETERY WHICH DOES NOT
SELL BURIAL GOODS;
(3) $25,000, IF THE DEVELOPED LAND AREA OF THE CEMETERY IS 10
ACRES OR LESS AND THE CEMETERY IS A FOR-PROFIT CEMETERY OR A NONPROFIT
CEMETERY WHICH SELLS BURIAL GOODS; OR
(4) $50,000, IF THE DEVELOPED LAND AREA OF THE CEMETERY IS MORE
THAN 10 ACRES AND THE CEMETERY IS A FOR-PROFIT CEMETERY OR A NONPROFIT
CEMETERY WHICH SELLS BURIAL GOODS.
(d) (1) The deposits required by this subsection are in addition to the
deposits required by subsection (c) of this section.
(2) Except as provided in paragraph [(3)] (4) of this subsection, within 30
days after the end of the month when the buyer of a RIGHT OF INTERMENT IN A burial
lot, above-ground crypt, OR niche, or burial right makes a final payment, the
registered cemeterian or permit holder shall pay in cash to the trustee for deposit in
the perpetual care trust fund [at least the greater of:
(i) 10% of the selling price of each burial lot, above-ground crypt,
niche, or burial right sold; or
(ii) 35 cents for each square foot of land burial space.]:
(I) AT LEAST 10% OF THE ACTUAL SELLING PRICE OF EACH RIGHT
OF INTERMENT IN A BURIAL LOT, ABOVE-GROUND CRYPT, OR NICHE, OR BURIAL
RIGHT; OR
(II) IF THE BURIAL SPACE IS SOLD AT A DISCOUNT OR AT NO COST,
AT LEAST 10% OF THE IMPUTED COST OF THE FAIR RETAIL VALUE.
(3) THE AMOUNT OF DEPOSIT TO THE PERPETUAL CARE TRUST FUND
SHALL BE DEDUCTED FROM THE PROCEEDS OF THE LISTED SELLING PRICE OF THE
RIGHT OF INTERMENT IN A BURIAL LOT, ABOVE-GROUND CRYPT, OR NICHE, OR
BURIAL RIGHT, AND MAY NOT BE CHARGED AS AN ADD-ON TO THE PURCHASER
[(3)] (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, or burial right for which the cemetery already has paid
into the perpetual care trust fund the deposit required by this subsection.
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- 1721 -
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