§ 46-7-102. Cemetery Trust Corporation — Purpose, Powers, Exemptions — Charter and Capital Stock
A trust corporation, which shall be chartered as a not-for-profit general welfare corporation under the laws of Tennessee, may be formed for the sole purpose of administering and providing fiduciary services for a trust created for the perpetual care of a private cemetery, thereby benefiting all the citizens of this state. The services performed by […]
§ 46-7-103. Board of Directors — Administration — Investments
The trust corporation shall have a board of directors as provided in the document that creates the trust to be administered by the corporation. The board shall also serve as trustee of the trust. The directors and their successors shall be appointed in the manner provided in the document. The trust document shall also provide […]
§ 46-7-104. Purpose of Trust — Expenditures for Perpetual Care
Any trust created for the perpetual care of a private cemetery to be administered by a trust corporation formed under this chapter shall be a charitable trust for the general welfare of the citizens of the state. The board of directors of the trust corporation shall establish guidelines for disbursement that are not inconsistent with […]
§ 46-7-105. Contributions — Gifts of Land
Any person, association, or corporation may make contributions to the trust corporation for the benefit of the trust pursuant to this chapter, and the trust corporation is authorized to accept funds and deposit the funds in the trust. In addition, the trust corporation is authorized to accept gifts of land for the benefit of the […]
§ 46-7-101. Legislative Intent
The general assembly recognizes that the operation of a cemetery is a public purpose and further recognizes that the proper maintenance of a cemetery or burial grounds, whether private or public, is in the interest of the public health and safety serving a valid public purpose. A trust created for the perpetual care or improvement […]