16-324. Same; trust fund established in trust company or federally insured institution authorized to do business in state.
16-324
16-324. Same; trust fund established in trust
company or
federally 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 the
custody of a trust company or a federally insured bank or savings and loan
association which
is authorized to do business in this state. Any cemetery merchandise trust
funds may be invested, reinvested, exchanged, retained, sold and managed in
the manner and subject to the requirements of
K.S.A. 58-24a02, and
amendments thereto, and, at the election of the trustee, as a part of common
trust funds.
History: L. 1982, ch. 96, § 5;
L. 1989, ch. 48, § 76;
L. 1994, ch. 34, § 2;
L. 2001, ch. 75, § 5; July 1.