12-512.02 Perpetual care trust fund; proceeds; investment. - Nebraska Statutes

12-512.02. Perpetual care trust fund; proceeds; investment.The cemetery association shall place at least the following sums into the perpetual care trust fund: (1) Monument plan cemeteries, fifty cents per square foot of each cemetery lot sold; (2) park plan or memorial plan cemeteries, twenty-five cents per square foot of each cemetery lot sold; and (3) combined monument and park plan cemeteries, fifty cents per square foot of each cemetery lot sold. Such funds shall be paid by the cemetery association to the trustees of the perpetual care trust fund, who shall invest the funds under the same conditions and restrictions as trust funds are invested under the provisions of section 30-3201; Provided, that when any lots are sold on contract, thirty percent of all payments received on the contract shall be paid to the trustee or trustees of the perpetual care trust fund until the entire payments required by this section are made. SourceLaws 1953, c. 20, § 2, p. 89; Laws 1955, c. 18, § 1, p. 91.