California Health and Safety Code 8726.3 – (a) Notwithstanding any other law, the principal of the trust …
(a) Notwithstanding any other law, the principal of the trust fund of a cemetery and all income from it shall be exempt from seizure, under any writ, mandate, or process, including bankruptcy, by any private entity, including, but not limited to, creditors of the beneficiaries, the trustee, or any person owning, operating, managing, conducting, or providing perpetual or endowed care to or for the cemetery for which the trust fund was created. In the event of seizure by any public entity, the principal and income of the trust fund shall only be available for the care, maintenance, and embellishment of that cemetery.
(b) If ownership of a cemetery authority is transferred pursuant to Section 8585, the principal and income of the trust fund shall only be available for the care, maintenance, and embellishment of that cemetery property in accordance with the provisions of law and the resolutions, bylaws, rules, and regulations or other actions or instruments of the cemetery authority.
Terms Used In California Health and Safety Code 8726.3
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
- Trustee: A person or institution holding and administering property in trust.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(Added by Stats. 2019, Ch. 309, Sec. 2. (AB 795) Effective January 1, 2020.)