17-1312d.   Maintenance fund; failure to establish or maintain;forfeiture of franchise.Any cemetery corporation which shall refuse or neglect to establish ormaintain a permanent maintenance fund in accordance with the requirementsof this act for each cemetery owned by it for a period of ninety (90) daysafter demand to do so is made upon it by the secretary of state shall bedeemed to have forfeited its franchise. The attorney general, upon therequest of the secretary of state, shall then begin action for theappointment of a receiver for such cemetery corporation and to dissolve thesame.

      History:   L. 1968, ch. 330, § 8; L. 1974, ch. 95, § 4; July 1.