Louisiana Revised Statutes 8:452 – Certification of trust fund in articles of incorporation; amendments
Terms Used In Louisiana Revised Statutes 8:452
- Board: means the Louisiana Cemetery Board. See Louisiana Revised Statutes 8:1
- Cemetery: means a place used or intended to be used for the interment of the human dead and, to the extent allowed in accordance with this Title, pet remains. See Louisiana Revised Statutes 8:1
- 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.
- Corporation: means any corporation or limited liability company which is authorized by its articles or an operating agreement to conduct any one or more of the businesses of a cemetery. See Louisiana Revised Statutes 8:1
- Trustee: A person or institution holding and administering property in trust.
- Trustee: means the separate legal entity designated as trustee of a cemetery care fund. See Louisiana Revised Statutes 8:1
No certificate of authority shall be issued to a corporation organized for the purpose of maintaining and operating a perpetual or endowed care cemetery unless its articles of incorporation provide for the establishment of a trust fund for such care in accordance with the provisions of this Chapter. Prior to commencing business, the corporation shall execute a written instrument establishing the trust fund and the trustee therein designated shall acknowledge in writing receipt of the minimum deposit required by this Chapter. The trust agreement shall be open for inspection and a copy of such agreement and any amendments thereto, as well as the receipt of the trustee, shall be filed with the board for approval within thirty days of execution.
Acts 1974, No. 417, §1. Amended by Acts 1980, No. 428, §1; Acts 1997, No. 921, §1.