Arizona Revised Statutes - Title 32 Professions and Occupations - Section 32-2194.24 Trust fund to be established before certificate of authority granted
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32-2194.24. Trust fund to be established
before certificate of authority granted
No certificate of authority shall issue to a corporation or limited liability
company organized for the purpose of maintaining and operating a cemetery unless the
articles of incorporation or organization certify to the establishment of an irrevocable
trust fund for maintenance and operation in accordance with the provisions of this
article, and there is attached to the articles of incorporation or organization the
written instrument establishing the irrevocable trust fund accompanied by the receipt of
the trustee designated in the written instrument for the minimum care fund hereinafter
provided. Any cemetery that has been operating before January 1, 1998 and that was not
previously required to establish an irrevocable trust fund shall not be required to
establish an irrevocable trust fund unless a material change is made to the plan under
which cemetery plots are offered for sale.
Sections: 32-2194.17 32-2194.18 32-2194.19 32-2194.20 32-2194.21 32-2194.22 32-2194.23 32-2194.24 32-2194.25 32-2194.26 32-2194.27 32-2194.28 32-2194.29 32-2194.30 32-2194.31
Last modified: February 20, 2012
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