HB1619 amends the Cemetery Care Act to redefine care funds, establish a master trust fund, and set new distribution methods and fees.
HB1619 amends the Cemetery Care Act to redefine care funds as those set aside for cemetery maintenance, allowing for collective investment and administration through a master trust fund. It allows cemetery authorities to distribute funds either by ordinary income or total return distribution, with specific application and fee requirements. The bill also introduces corrective measures by the Comptroller under certain conditions, such as significant declines in fair market value or uncorrected deficiencies.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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