Sec. 2.2. If:
(1) the perpetual care fund of a cemetery is a trust; and
(2) the perpetual care fund trust has not been converted into a total return unitrust under section 2.6 of this chapter;
the trustee of the trust may, to the extent allowed by section 2 of this chapter, withdraw funds from the trust in amounts the trustee considers necessary to pay the cost of perpetual care of the cemetery, notwithstanding any provision in the terms of the trust instrument that would restrict withdrawals from the trust for perpetual care of the cemetery to less than the amounts allowed by section 2 of this chapter.
As added by P.L.163-2016, SEC.1. Amended by P.L.33-2019, SEC.2.
Structure Indiana Code
Title 23. Business and Other Associations
Article 14. Cemetery Associations
Chapter 48. Cemetery Perpetual Care Fund
23-14-48-1. Application of Chapter
23-14-48-1.5. "Immediate Maintenance Needs"
23-14-48-2. Establishment of Perpetual Care Fund; Limit on Withdrawals
23-14-48-2.2. Withdrawal of Funds From Perpetual Care Fund Established as a Conventional Trust
23-14-48-2.4. Investment of Money in Perpetual Care Fund
23-14-48-2.6. Conversion of Perpetual Care Fund Into Total Return Unitrust
23-14-48-3. Establishment; Payment; Fund Segregated
23-14-48-4. Duties of Cemetery Organized After March 6, 1953, and Before July 1, 1997
23-14-48-5. Duties of Cemetery Organized After June 30, 1997
23-14-48-6. Increases in Perpetual Care Fund
23-14-48-7. Accounting and Report; Audit
23-14-48-8. Separate and Distinct Cemeteries
23-14-48-9. Violation of Chapter
23-14-48-10. Formation of Association for Management, Care, and Supervision of Cemetery