§ 65-60.1 – Trustees; qualifications; examination of records; enforcement.
65-60.1. Trustees; qualifications; examination of records; enforcement. (a) The term "corporate trustee" as used in this Article shall mean a bank, credit union, or trust company authorized to do business in North Carolina under the supervision of the Commissioner of Banks, Credit Union Administrator, or any other corporate entity; provided that any corporate entity other […]
§ 65-61 – Required trust fund for care and maintenance; remedy of Commission for noncompliance.
65-61. Required trust fund for care and maintenance; remedy of Commission for noncompliance. No cemetery company shall be permitted to establish, or operate if already established, a cemetery unless provision is made for the future care and maintenance of such cemetery by establishing a trust fund and designating a corporate trustee to administer said fund […]
§ 65-62 – Individual contracts for care and maintenance.
65-62. Individual contracts for care and maintenance. At the time of making a sale or receiving the initial deposit hereunder, the cemetery company shall deliver to the person to whom such sale is made, or who makes such deposit, an instrument in writing which shall specifically state that the net income of the care and […]
§ 65-63 – Requirements for perpetual care fund.
65-63. Requirements for perpetual care fund. A cemetery company may not cause or permit advertising of a perpetual care fund in connection with the sale or offer for sale of its property unless the amount deposited in the fund is at least one hundred dollars ($100.00) or ten percent (10%) of the retail sale price, […]
§ 65-64 – Deposits to perpetual care fund.
65-64. Deposits to perpetual care fund. (a) Deposits to the care and maintenance trust fund must be made by the cemetery company holding title to the subject cemetery lands on or before the last day of the calendar month following the calendar month in which final payment is received as provided herein; however the entire […]
§ 65-65 – Trust fund; financial reports.
65-65. Trust fund; financial reports. Within 60 days after the end of the calendar or fiscal year of the cemetery company, the trustee shall furnish adequate financial reports with respect to the care fund on forms provided by the Commission. However, the Commission may require the trustee to make such additional financial reports as it […]
§ 65-66 – Receipts from sale of personal property or services; trust account; penalties.
65-66. Receipts from sale of personal property or services; trust account; penalties. (a) It shall be deemed contrary to public policy if any person or legal entity receives, holds, controls or manages funds or proceeds received from the sale of, or from a contract to sell, personal property or services which may be used in […]
§ 65-67 – Applications for license.
65-67. Applications for license. Applications for renewal license must be submitted on or before July 1 each and every year in the case of an existing cemetery company. Before any sale of cemetery property in the case of a new cemetery company or a change of ownership or control as indicated in G.S. 65-59, an […]
§ 65-54 – Annual budget of Commission; collection of funds.
65-54. Annual budget of Commission; collection of funds. The Commission shall prepare an annual budget and shall collect the sums of money required for this budget from yearly fees and from any other sources provided in this Article. On or before July 1 of each year, each licensed cemetery shall pay a license fee to […]
§ 65-54.1 – Commission records are confidential.
65-54.1. Commission records are confidential. Records, papers, and other documents containing information collected or compiled by the Commission, its members, or employees as a result of a complaint, investigation, inquiry, or interview in connection with an application for license, or in connection with a license holder’s professional ethics and conduct, shall not be considered public […]