Iowa Code 523I.804 – Use of gift for special care
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 523I.804
- 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.
- property: includes personal and real property. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
523I.804 Use of gift for special care.
A trustee may accept and hold money or property transferred to the trustee in trust for
the purpose of applying the principal or income of the money or property transferred for a purpose consistent with the purpose of a perpetual care cemetery, including the following:
1. Improvement or embellishment of any part of the cemetery.
2. Erection, renewal, repair, or preservation of a monument, fence, building, or other structure in the cemetery.
3. Planting or cultivation of plants in or around the cemetery.
4. Special care of or embellishment of an interment space, section, or building in the cemetery.
2005 Acts, ch 128, §59
A trustee may accept and hold money or property transferred to the trustee in trust for
the purpose of applying the principal or income of the money or property transferred for a purpose consistent with the purpose of a perpetual care cemetery, including the following:
1. Improvement or embellishment of any part of the cemetery.
2. Erection, renewal, repair, or preservation of a monument, fence, building, or other structure in the cemetery.
3. Planting or cultivation of plants in or around the cemetery.
4. Special care of or embellishment of an interment space, section, or building in the cemetery.
2005 Acts, ch 128, §59