35-20-316. Permanent care and improvement fund -- management of fund. (1) A permanent care and improvement fund established pursuant to 35-20-301 is considered an endowment fund as defined in 72-30-102.
(2) The trustees may manage, invest, and appropriate the fund pursuant to the Uniform Prudent Management of Institutional Funds Act provided for in Title 72, chapter 30.
(3) The trustees may annually appropriate a percentage of the fair market value of the fund to the treasurer of the association to use for the purposes set forth in 35-20-312.
History: En. Sec. 1, Ch. 168, L. 2015.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 20. Cemetery Associations
Part 3. Permanent Care and Improvement Fund Trustees of Fund
35-20-302. Trustees of fund -- appointment by district court -- qualifications -- powers
35-20-303. Trustees of fund -- term
35-20-304. Trustees of fund -- bond required -- renewal of bond -- deposit with county treasurer
35-20-305. Vacancies -- how filled
35-20-306. All powers vest in survivors until vacancy filled -- succession to powers
35-20-308. Recording appointments of trustees
35-20-310. Transfer of moneys received by association to trustees of fund
35-20-311. Principal of fund to be reserved -- income to be turned over to treasurer
35-20-312. Use of income of fund
35-20-314. Compensation of trustees of fund
35-20-315. Annual report of trustees of fund
35-20-316. Permanent care and improvement fund -- management of fund