California Health and Safety Code

§ 8726.2

HSC § 8726.2 Effective Jan 1, 2022Div. 8 · Part 3 · Ch. 5 · Art. 2

Statute text

(a)On or after January 1, 2021, a cemetery authority, its board of trustees, or its corporate trustee may apply to the Cemetery and Funeral Bureau to convert its endowment care fund from a net income distribution method to a unitrust distribution method.

(b)The bureau shall approve the application described in subdivision (a) only if all of the following conditions are met:

(1)The cemetery authority, its board of trustees, or its corporate trustee provides the investment objectives of the trust and those objectives promote the mutual goals of (A) growing the principal assets to sufficiently cover the cost of future and ongoing care and maintenance of the cemetery and (B) generating income to support the cemetery, as described in Section 8726.

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Legislative history

Amended by Stats. 2021, Ch. 376, Sec. 37. (AB 830) Effective January 1, 2022.