17-1311.Same; permanent maintenance fund; requirements; use.
A cemetery corporation shall maintain, in a trust company
located within the state
of Kansas, a state or national bank located within the state of Kansas, a
state or federally chartered
savings and loan association located within the state of Kansas or a
federally chartered savings bank located within the state of Kansas, a
percentage of the purchase price of each burial lot sold by it, or any
payment on such burial lot, not less than 15%
of such purchase price, for the permanent maintenance
of the cemetery within which the burial lot lies, but the total amount set
aside shall not be less than $25 for each burial lot at the time of
conveyance of such lot. Deposits to the permanent maintenance fund shall be
made within 45 days of receipt of moneys for which deposits are required to
be 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 fulfilling
such requirement. Moneys in such fund may be held and invested to the same
extent as is provided in
K.S.A. 58-24a02,
and amendments thereto, but the total amount of money
invested in any mortgage upon real property shall not exceed an amount
equal to 75% of the market value of such property
at the time of such investment. The income of the permanent
maintenance fund shall be used exclusively for the maintenance of the
cemetery. No part of the principal of the fund shall ever be used for
any purpose except for such investment. In no event shall any loan of the
funds be made
to any stockholder, officer or employee of such cemetery corporation, or to
any person related, by blood or marriage, to a stockholder, officer or
employee. The treasurer
of such corporation may deposit, to the credit of such fund, donations
or bequests for the fund and may retain property so acquired without
limitation as to time and without regard to its suitability for original
purchase. As used in this section, the term "burial lot" means a
plotted space for one grave. Such maintenance shall include, but not be
limited to, mowing, road maintenance and landscaping, but shall not
include administrative costs, expense of audits or the portion of any
capital expense for equipment used to maintain portions of a cemetery
not 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.
17-1311.Same; permanent maintenance fund; requirements; use.
A cemetery corporation shall maintain, in a trust company
located within the state
of Kansas, a state or national bank located within the state of Kansas, a
state or federally chartered
savings and loan association located within the state of Kansas or a
federally chartered savings bank located within the state of Kansas, a
percentage of the purchase price of each burial lot sold by it, or any
payment on such burial lot, not less than 15%
of such purchase price, for the permanent maintenance
of the cemetery within which the burial lot lies, but the total amount set
aside shall not be less than $25 for each burial lot at the time of
conveyance of such lot. Deposits to the permanent maintenance fund shall be
made within 45 days of receipt of moneys for which deposits are required to
be 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 fulfilling
such requirement. Moneys in such fund may be held and invested to the same
extent as is provided in
K.S.A. 58-24a02,
and amendments thereto, but the total amount of money
invested in any mortgage upon real property shall not exceed an amount
equal to 75% of the market value of such property
at the time of such investment. The income of the permanent
maintenance fund shall be used exclusively for the maintenance of the
cemetery. No part of the principal of the fund shall ever be used for
any purpose except for such investment. In no event shall any loan of the
funds be made
to any stockholder, officer or employee of such cemetery corporation, or to
any person related, by blood or marriage, to a stockholder, officer or
employee. The treasurer
of such corporation may deposit, to the credit of such fund, donations
or bequests for the fund and may retain property so acquired without
limitation as to time and without regard to its suitability for original
purchase. As used in this section, the term "burial lot" means a
plotted space for one grave. Such maintenance shall include, but not be
limited to, mowing, road maintenance and landscaping, but shall not
include administrative costs, expense of audits or the portion of any
capital expense for equipment used to maintain portions of a cemetery
not 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.
17-1311.Same; permanent maintenance fund; requirements; use.
A cemetery corporation shall maintain, in a trust company
located within the state
of Kansas, a state or national bank located within the state of Kansas, a
state or federally chartered
savings and loan association located within the state of Kansas or a
federally chartered savings bank located within the state of Kansas, a
percentage of the purchase price of each burial lot sold by it, or any
payment on such burial lot, not less than 15%
of such purchase price, for the permanent maintenance
of the cemetery within which the burial lot lies, but the total amount set
aside shall not be less than $25 for each burial lot at the time of
conveyance of such lot. Deposits to the permanent maintenance fund shall be
made within 45 days of receipt of moneys for which deposits are required to
be 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 fulfilling
such requirement. Moneys in such fund may be held and invested to the same
extent as is provided in
K.S.A. 58-24a02,
and amendments thereto, but the total amount of money
invested in any mortgage upon real property shall not exceed an amount
equal to 75% of the market value of such property
at the time of such investment. The income of the permanent
maintenance fund shall be used exclusively for the maintenance of the
cemetery. No part of the principal of the fund shall ever be used for
any purpose except for such investment. In no event shall any loan of the
funds be made
to any stockholder, officer or employee of such cemetery corporation, or to
any person related, by blood or marriage, to a stockholder, officer or
employee. The treasurer
of such corporation may deposit, to the credit of such fund, donations
or bequests for the fund and may retain property so acquired without
limitation as to time and without regard to its suitability for original
purchase. As used in this section, the term "burial lot" means a
plotted space for one grave. Such maintenance shall include, but not be
limited to, mowing, road maintenance and landscaping, but shall not
include administrative costs, expense of audits or the portion of any
capital expense for equipment used to maintain portions of a cemetery
not 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.
