8-4-4 - Insufficiency in endowment fund. - Utah Statutes

8-4-4. Insufficiency in endowment fund.
(1) An endowment care cemetery that maintains a trust fund that is not funded at least inthe amount required by this chapter or any state or federal law applicable to the fund at the timeof underfunding shall immediately deposit additional money to the endowment care trust fund inan amount to bring the fund into compliance with applicable law.
(2) (a) If the trustee of an endowment care trust fund determines that an insufficiency inthe endowment care trust fund exists, the trustee shall provide written notice to the endowmentcare cemetery.
(b) If after 60 days of the notice to the endowment care cemetery, the endowment carecemetery has not deposited sufficient money into the fund, the trustee shall file, as a lien upon theproperty of the endowment care cemetery, a claim in behalf of the endowment care trust fund inthe amount of the insufficiency.

Amended by Chapter 3, 1996 General Session