Sec. 6. It shall be unlawful for any such agreement or agreements to provide for forfeiture and retention of payments upon any such agreement or series of agreements as and for liquidated damages for default of the agreement or series of agreements in excess of ten percent (10%) of the payments made or thirty-five dollars ($35), whichever sum is larger.
Formerly: Acts 1963, c.303, s.6. As amended by P.L.136-2018, SEC.222.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 9. Prepaid Funeral Plans and Funeral Trust Funds Established Before 1982
30-2-9-1. Agreement or Contract; Personal Property, Merchandise, or Services; General Cemetery Law
30-2-9-2. Deposit of Funds; Investments
30-2-9-3. Permits; Fidelity Bonds; Accounts, Books, and Records
30-2-9-4. Deposits or Investments; Interest or Dividends; Withdrawal; Forfeiture
30-2-9-5. Compensation and Expenses of Trustee
30-2-9-7. False Reports; Illegal Use or Disbursement of Funds