California Health and Safety Code

§ 8726.1

HSC § 8726.1 Effective Jan 1, 2018Div. 8 · Part 3 · Ch. 5 · Art. 2

Statute text

(a)If a cemetery authority establishes an endowment care fund, the fund shall be subject to a net income distribution method that requires all of the following:

(1)The trustee of the endowment care fund shall create a reserve from which principal losses may be replaced by setting aside a reasonable percentage of the income from the fund.

(2)The trustee may also set aside, out of income or net capital gains from investments, reserves for future maintenance, repair, replacement, or restoration of property or embellishments in the cemetery that may be necessary or desirable as a result of wear, deterioration, accident, damage, or destruction.

…

Legislative history

Amended by Stats. 2017, Ch. 750, Sec. 4. (AB 926) Effective January 1, 2018.