214.325. Required deposits--deficiency--effect--penalty. - Missouri Statutes

Required deposits--deficiency--effect--penalty.

214.325. If the deposits to any endowed care fund requiredby sections 214.270 to 214.410 are less than the total sumrequired to be set aside and deposited since the effective dateof such sections, the cemetery operator shall correct suchdeficiency by depositing not less than twenty percent of suchdeficiency each year for five years following August 28, 1990,and shall file, on the form provided by the division, a statementoutlining the date and amount such deposits were made. If thecemetery operator fails to correct the deficiency, the cemeteryoperator shall thereafter not represent the cemetery as anendowed care cemetery. Any funds held in the cemetery's endowedcare trust shall continue to be used for endowed care for thatcemetery. The cemetery operator shall remain subject to theprovisions of sections 214.270 to 214.410 for any cemetery or anysection of the cemetery for which endowed care payments have beencollected, subject to the penalties contained in section 214.410,and civil actions as well as subject to any regulationspromulgated by the division.

(L. 1990 H.B. 1079, A.L. 1994 S.B. 496)