Maryland Statutes
Subtitle 6 - Perpetual Care
Section 5-605 - Trust Agreement

(a)    The terms of a trust to provide for perpetual care shall be designated in a written agreement between the registered cemeterian, permit holder, or any other person subject to the trust requirements of this subtitle and trustee.
    (b)    The terms of the trust agreement:
        (1)    shall conform to this subtitle; and
        (2)    may include provisions about:
            (i)    payment of income;
            (ii)    accumulation of income;
            (iii)    reinvestment of income;
            (iv)    administration of the trust fund; and
            (v)    powers of the trustee as to investments.
    (c)    (1)    A trust agreement shall be irrevocable.
        (2)    However, a trust agreement may:
            (i)    give the registered cemeterian, permit holder, or other person subject to the trust requirements of this subtitle the right to remove the trustee and appoint another qualified trustee; and
            (ii)    provide for the appointment of individuals as cotrustees and successor cotrustees with a corporate trustee.

Structure Maryland Statutes