To the extent that any endowment care trust existing on May 1, 2002, includes investments or assets, the retention of which the trustee in the free exercise of its discretion deems not in the best interest of the trust estate, the trustee shall dispose of the investments or assets as soon as practicable without undue sacrifice to the trust estate, and in any event within two years after May 1, 2002.
Structure Code of Alabama
Chapter 17A - Preneed Funeral and Cemetery Act.
Article 4 - Cemetery Merchandise and Services Trust Fund.
Section 27-17A-40 - Applicability of Article.
Section 27-17A-41 - Trust Fund; Trustee; Interests of Purchaser; Seller.
Section 27-17A-43 - Cancellation of Contract; Withdrawal From Trust Fund.
Section 27-17A-44 - Rights of Seller.
Section 27-17A-45 - Endowment Care Fund.
Section 27-17A-46 - Endowment Care Cemeteries.
Section 27-17A-47 - Establishment and Management of Endowment Care Fund.
Section 27-17A-48 - Maintenance of Records.
Section 27-17A-49 - Endowment Care Fund Deposits; Qualification as Endowment Care Cemetery.
Section 27-17A-51 - Propriety of Expenditures; Income Payments to Cemetery Authority.
Section 27-17A-52 - Disclosure of Activities and Statement of Investments.
Section 27-17A-53 - Disposal of Assets or Investments.
Section 27-17A-54 - Annual Report.
Section 27-17A-55 - Construction of Mausoleum, Etc.