17-1311.   Same; permanent maintenance fund; requirements; use.A cemetery corporation shall maintain, in a trust companylocated within the stateof Kansas, a state or national bank located within the state of Kansas, astate or federally charteredsavings and loan association located within the state of Kansas or afederally chartered savings bank located within the state of Kansas, apercentage of the purchase price of each burial lot sold by it, or anypayment on such burial lot, not less than 15%of such purchase price, for the permanent maintenanceof the cemetery within which the burial lot lies, but the total amount setaside shall not be less than $25 for each burial lot at the time ofconveyance of such lot. Deposits to the permanent maintenance fund shall bemade within 45 days of receipt of moneys for which deposits are required tobe made. Moneys placed in such fund under the provisions of K.S.A. 17-1308,and amendments thereto, shall be credited for the purposes of fulfillingsuch requirement. Moneys in such fund may be held and invested to the sameextent as is provided inK.S.A. 58-24a02,and amendments thereto, but the total amount of moneyinvested in any mortgage upon real property shall not exceed an amountequal to 75% of the market value of such propertyat the time of such investment. The income of the permanentmaintenance fund shall be used exclusively for the maintenance of thecemetery. No part of the principal of the fund shall ever be used forany purpose except for such investment. In no event shall any loan of thefunds be madeto any stockholder, officer or employee of such cemetery corporation, or toany person related, by blood or marriage, to a stockholder, officer oremployee. The treasurerof such corporation may deposit, to the credit of such fund, donationsor bequests for the fund and may retain property so acquired withoutlimitation as to time and without regard to its suitability for originalpurchase. As used in this section, the term "burial lot" means aplotted space for one grave. Such maintenance shall include, but not belimited to, mowing, road maintenance and landscaping, but shall notinclude administrative costs, expense of audits or the portion of anycapital expense for equipment used to maintain portions of a cemeterynot sold for burial purposes or in use for grave sites.

      History:   L. 1901, ch. 102, § 5;R.S. 1923, 17-1311;L. 1931, ch. 147, § 1;L. 1963, ch. 138, § 1;L. 1968, ch. 330, § 3;L. 1971, ch. 71, § 1;L. 1978, ch. 76, § 1;L. 1985, ch. 91, § 1;L. 1989, ch. 48, § 77;L. 1994, ch. 229, § 4;L. 2001, ch. 75, § 6; July 1.