306 - Status and readjustment of permanent lot care fund. - Pennsylvania Statutes

§ 306. Status and readjustment of permanent lot care fund. (a) Single fund.--The permanent lot care fund established by the deposits required by section 301 of this title (relating to initial deposits by newly-organized cemetery companies) through section 303 of this title (relating to periodic deposits) shall constitute a single fund with respect to any cemetery and nothing contained in this chapter shall be construed to mean that two separate funds must be created. (b) Readjustment of fund.--Whenever there shall be deposited in a permanent lot care fund pursuant to section 303 of this title (relating to periodic deposits) a sum equal to the amount of money required to be initially deposited therein pursuant to section 301 of this title (relating to initial deposits by newly-organized cemetery companies) or section 302 of this title (relating to initial deposits by existing cemetery companies) and proof of such fact is submitted to the qualified trustee, it shall be the duty of the qualified trustee thereupon to pay over to the cemetery company the amount so initially deposited by it in the permanent lot care fund free and clear of the restrictions and limitations of this chapter.