|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 348
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(i) at least 10% of the actual selling price of each right of
interment in a burial lot, above-ground crypt, or niche; 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, and may not be charged as an add-on to the
purchaser.
(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.
(e) The income from the perpetual care trust fund:
(1) shall be used only for the perpetual care of the cemetery, including:
(i) the maintenance, including the cutting of grass abutting
memorials or monuments, administration, supervision, and embellishment of the
cemetery and its grounds, roads, and paths; and
(ii) the repair and renewal of buildings, including columbaria
and mausoleums, and the property of the cemetery; and
(2) may not be used to care for memorials or monuments.
(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, 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, 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.
|
|
|
|
|
|
|
|
|
|
- 2193 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
