A. An endowed care cemetery's registration is not transferable. When any cemetery authority subject to the provisions of the Endowed Care Cemetery Act is transferred, the person acquiring the cemetery shall register with the director as required by Section 58-17-18 NMSA 1978.
B. A transfer of ownership cannot take place and no endowed care can be sold until the director has approved the registration required by Subsection A of this section.
History: Laws 2001, ch. 149, § 19.
Effective dates. — Laws 2001, ch. 149, § 22 makes the act effective July 1, 2001.
Structure New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 17 - Endowed Care of Cemeteries
Section 58-17-1 - Declaration of policy.
Section 58-17-2 - Short title.
Section 58-17-3 - Definitions.
Section 58-17-4 - Gifts and contributions; care funds; trust funds.
Section 58-17-5 - Loans by cemeteries.
Section 58-17-6 - Instrument regarding care to be furnished by cemetery authority.
Section 58-17-7 - Representations regarding care and maintenance to be furnished.
Section 58-17-8 - Care funds not subject to tax.
Section 58-17-9 - Compliance with law required.
Section 58-17-10 - Registration with director.
Section 58-17-11 - Deposit or bond of endowed care cemeteries.
Section 58-17-12 - Display of signs.
Section 58-17-13 - Enforcement of provisions of act by director.
Section 58-17-14 - Proceedings in case of law violations.
Section 58-17-15 - Disposition of care funds upon dissolution.
Section 58-17-16 - Violations; punishment.
Section 58-17-18 - Establishing a cemetery authority.
Section 58-17-19 - Transfer of ownership.
Section 58-17-20 - Denial, suspension or revocation of registration.