Mississippi SB2530 allows perpetual care cemeteries to maintain CDs that mature in one year or less if the trust fund is $75,000 or less.
Mississippi SB2530 amends Section 41-43-37 of the Mississippi Code to allow perpetual care cemeteries to maintain certificates of deposit (CDs) that mature in one year or less if the trust fund principal is $75,000 or less. The bill increases the maximum principal amount from $50,000 to $75,000 and extends the maturity period from days to one year or less. The income from these CDs is to be used for the care and maintenance of the cemetery.
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