301 - Initial deposits by newly-organized cemetery companies.
CHAPTER 2 (Reserved) Enactment. Chapter 2 (Reserved) was added November 15, 1972, P.L.1063, No.271, effective in 90 days. CHAPTER 3 REGULATION OF CEMETERY COMPANIES Sec. 301. Initial deposits by newly-organized cemetery companies. 302. Initial deposits by existing cemetery companies. 303. Periodic deposits. 304. Registration and filing affidavit of compliance. 305. Use of permanent lot care fund. 306. Status and readjustment of permanent lot care fund. 307. Investment and operation of fund. 308. Accounts of qualified trustee. 309. Incorporated cemetery company as qualified trustee. 310. Penalties. 311. Effect of chapter on articles of existing incorporated cemetery companies. 312. Engaging in cemetery business in unauthorized manner. Enactment. Chapter 3 was added November 15, 1972, P.L.1063, No.271, effective in 90 days. Cross References. Chapter 3 is referred to in section 101 of this title. § 301. Initial deposits by newly-organized cemetery companies. (a) General rule.--No cemetery company shall establish a cemetery, or dispose or make sale of any lot therein, without first causing to be deposited with a qualified trustee a sum of not less than $25,000 as a permanent lot care fund. (b) Exceptions.--The provisions of subsection (a) of this section shall not apply to any bona fide church or religious congregation or any association created by any such bona fide church or religious congregation. Cross References. Section 301 is referred to in sections 304, 305, 306 of this title.