Text: SF00193 Text: SF00195 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 566A.3, unnumbered paragraph 1, Code
1 2 1995, is amended to read as follows:
1 3 Any such organization subject to the provisions of this
1 4 chapter which is organized or commences business in the state
1 5 of Iowa after July 4, 1953 and desires to operate as a
1 6 perpetual care cemetery shall, before selling or disposing of
1 7 any interment space or lots, establish a minimum perpetual
1 8 care and maintenance guarantee fund of twenty-five thousand
1 9 dollars in cash. The perpetual care and maintenance guarantee
1 10 fund shall be permanently set aside in trust to be
1 11 administered under the jurisdiction of the district court of
1 12 the county wherein the cemetery is located. The district
1 13 court so having jurisdiction shall have full jurisdiction over
1 14 the approval of trustees, reports and accounting of trustees,
1 15 amount of surety bond required, and investment of funds. Only
1 16 the income from such fund, or any amount from such fund so
1 17 long as the balance remaining in the fund exceeds one hundred
1 18 thousand dollars, shall be used for the care and maintenance
1 19 of the cemetery for which it was established.
1 20 EXPLANATION
1 21 This bill provides that a perpetual care cemetery can use a
1 22 portion of the perpetual care and maintenance guarantee fund
1 23 established by the cemetery for the care and maintenance of
1 24 the cemetery so long as the balance remaining in the fund
1 25 exceeds $100,000. Currently, a perpetual care cemetery can
1 26 use only the income from the fund for the care and maintenance
1 27 of the cemetery.
1 28 LSB 1979SS 76
1 29 ec/cf/24
Text: SF00193 Text: SF00195 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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