CHAPTER 49. CEMETERY ESCROW OR TRUST ACCOUNTS - Indiana Statutes

IC 23-14-49
     Chapter 49. Cemetery Escrow or Trust Accounts

IC 23-14-49-1
Application of chapter; placement of certain proceeds
     Sec. 1. (a) This chapter does not apply to the proceeds from the sales of burial spaces.
    (b) All proceeds received by anyone selling floral tributes, vaults, memorials of any type, or services that:
        (1) are to be installed in or provided in a cemetery; but
        (2) are not to be delivered or provided until the death of the person or persons for whom the vault, memorial, floral tribute, or service is to be used or provided;
shall be placed in escrow or trust in a separate account and held for the specific purpose intended until the time of burial or completion of the services.
As added by P.L.52-1997, SEC.23.

IC 23-14-49-2
Powers of owner
     Sec. 2. The owner of a cemetery may:
        (1) take and hold any property devised, bequeathed, granted, or given to the owner in trust; and
        (2) apply:
            (A) the property; or
            (B) the proceeds or income from the property;
        according to the terms of the devise, bequest, grant, or gift.
As added by P.L.52-1997, SEC.23.

IC 23-14-49-3
Violation of chapter; Class A misdemeanor
     Sec. 3. A person who knowingly violates this chapter commits a Class A misdemeanor.
As added by P.L.52-1997, SEC.23.