Iowa Code 523I.503 – Authority to receive gifts and deposits for care — certificates
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Terms Used In Iowa Code 523I.503
- clerk: means clerk of the court in which the action or proceeding is brought or is pending; and the words "clerk's office" mean the office of that clerk. See Iowa Code 4.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Decedent: A deceased person.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
523I.503 Authority to receive gifts and deposits for care — certificates.
1. A governmental subdivision that is a trustee for the perpetual maintenance of a
cemetery may adopt reasonable rules governing the receipt of a gift or grant from any source.
2. A governmental subdivision that is a trustee for a person shall accept the amount the governmental subdivision requires for permanent maintenance of an interment space on behalf of that person or a decedent.
3. A governmental subdivision’s acceptance of a deposit for permanent maintenance of an interment space constitutes a perpetual trust for the designated interment space.
4. Upon acceptance of a deposit, a governmental subdivision’s secretary, clerk, or mayor shall issue a certificate in the name of the governmental subdivision to the trustee or depositor. The certificate shall state all of the following:
a. The depositor’s name.
b. The amount and purpose of the deposit.
c. The location, with as much specificity as possible, of the interment space to be maintained.
d. Other information required by the governmental subdivision.
5. An individual, association, foundation, or corporation that is interested in the maintenance of a neglected cemetery in a governmental subdivision’s possession and control may donate funds to the cemetery’s perpetual trust fund to beautify and maintain the entire cemetery or burial grounds generally.
2005 Acts, ch 128, §43
1. A governmental subdivision that is a trustee for the perpetual maintenance of a
cemetery may adopt reasonable rules governing the receipt of a gift or grant from any source.
2. A governmental subdivision that is a trustee for a person shall accept the amount the governmental subdivision requires for permanent maintenance of an interment space on behalf of that person or a decedent.
3. A governmental subdivision’s acceptance of a deposit for permanent maintenance of an interment space constitutes a perpetual trust for the designated interment space.
4. Upon acceptance of a deposit, a governmental subdivision’s secretary, clerk, or mayor shall issue a certificate in the name of the governmental subdivision to the trustee or depositor. The certificate shall state all of the following:
a. The depositor’s name.
b. The amount and purpose of the deposit.
c. The location, with as much specificity as possible, of the interment space to be maintained.
d. Other information required by the governmental subdivision.
5. An individual, association, foundation, or corporation that is interested in the maintenance of a neglected cemetery in a governmental subdivision’s possession and control may donate funds to the cemetery’s perpetual trust fund to beautify and maintain the entire cemetery or burial grounds generally.
2005 Acts, ch 128, §43