Does Maryland law establish minimum deposit requirements and minimum contributions to a perpetual care trust fund?
Current Maryland law requires an initial deposit of between $10,000 and $50,000 to begin a perpetual care trust fund. Once begun, the cemetery is required to deposit into the fund at least 10% of the actual selling price of each right of interment in a burial lot, above-ground crypt, or niche or, if the burial space is sold at a discount or given away at no cost, at least 10% of the imputed fair retail value of the cemetery lot, above-ground crypt, or niche.
Related Questions
- In Maryland, although 10% of lot sales is the required minimum amount to be placed in the perpetual care trust fund, do regulators specify a maximum amount?
- Does Maryland law establish minimum deposit requirements and minimum contributions to a perpetual care trust fund?
- Does Maryland law require regulated cemeteries to have a perpetual care trust fund?
