16-324.   Same; trust fund established in trustcompany orfederally insured institution authorized to do business in state.A cemetery merchandise trust fund established pursuant to K.S.A.16-321 or 16-322, and amendments thereto, shall at all times be in thecustody of a trust company or a federally insured bank or savings and loanassociation whichis authorized to do business in this state. Any cemetery merchandise trustfunds may be invested, reinvested, exchanged, retained, sold and managed inthe manner and subject to the requirements of K.S.A. 58-24a02, andamendments thereto, and, at the election of the trustee, as a part of commontrust funds.

      History:   L. 1982, ch. 96, § 5;L. 1989, ch. 48, § 76;L. 1994, ch. 34, § 2;L. 2001, ch. 75, § 5; July 1.