Louisiana Revised Statutes 8:505 – Annual reports by trustee; final accounting by trustee required
Terms Used In Louisiana Revised Statutes 8:505
- 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
- Cemetery authority: means any person, firm, corporation, limited liability company, trustee, partnership, association, or municipality owning, operating, controlling, or managing a cemetery or holding lands within this state for interment purposes. 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
A. Annually, a trustee, within ninety days after the close of a cemetery authority’s business year, shall file with the board a financial report of the merchandise trust fund, setting forth the principal thereof, the investments and payments made, and the income earned and disbursed. The board may require the trustee to make such additional financial reports as it deems reasonably advisable.
B. Within sixty days of the resignation of a trustee and transfer of the trust fund to the successor trustee, the resigning trustee shall file with the board a financial report of the merchandise trust fund, setting forth the principal thereof, the investments and payments made, and the income earned and disbursed from the last reporting period through the date of resignation and transfer of the trust fund to the successor trustee.
C. For purposes of this Chapter, the business year is any consecutive twelve-month period determined by the cemetery authority as designated in the report. The cemetery authority may change its business year by filing the report for a period less than twelve months. The board shall be notified of such change within thirty days of the effective date of the change.
Acts 1997, No. 921, §1; Acts 2014, No. 88, §1; Acts 2022, No. 574, §1; Acts 2023, No. 381, §1.