CHAPTER 49. CEMETERY ESCROW OR TRUST ACCOUNTS

IC 23-14-49
    Chapter 49. Cemetery Escrow or Trust Accounts

IC 23-14-49-1
Application of chapter; placement of certain proceeds
    Sec. 1. (a) This chapter does not apply to the proceeds from thesales of burial spaces.
    (b) All proceeds received by anyone selling floral tributes, vaults,memorials of any type, or services that:
        (1) are to be installed in or provided in a cemetery; but
        (2) are not to be delivered or provided until the death of theperson or persons for whom the vault, memorial, floral tribute,or service is to be used or provided;
shall be placed in escrow or trust in a separate account and held forthe specific purpose intended until the time of burial or completionof the services.
As added by P.L.52-1997, SEC.23.

IC 23-14-49-2
Powers of owner
    Sec. 2. The owner of a cemetery may:
        (1) take and hold any property devised, bequeathed, granted, orgiven to the owner in trust; and
        (2) apply:
            (A) the property; or
            (B) the proceeds or income from the property;
        according to the terms of the devise, bequest, grant, or gift.
As added by P.L.52-1997, SEC.23.

IC 23-14-49-3
Violation of chapter; Class A misdemeanor
    Sec. 3. A person who knowingly violates this chapter commits aClass A misdemeanor.
As added by P.L.52-1997, SEC.23.