12-616. Trustees of perpetual care trust fund; authority to receive gifts; investment of funds.
197 words·~1 min read·
/ne/chapter-12/12-616A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The trustee or trustees shall have the authority to receive gifts or bequests of money and other personal property and devises of real estate and any interest therein, to be placed in the perpetual care fund. The principal of the perpetual care fund shall be forever held inviolate as a perpetual trust, by said trustee or trustees, and shall be maintained separate and distinct from any other funds. The principal of the perpetual care fund shall be invested and, from time to time, reinvested and kept invested in securities, authorized by the State of Nebraska, for the investment of trust funds, and the income earned therefrom shall be used solely for the general care, maintenance, and embellishment of the mausoleum or columbarium, and shall be applied in such manner as the person or persons owning or operating the mausoleum or columbarium may, from time to time, determine to be for the best interests of such mausoleum or columbarium.
Where relevant, this section controls a court's analysis of a perpetual care trust for a mausoleum under the Nebraska Uniform Trust Code. In re Maint. Fund Trust of Sunset Mem. Park Chapel, 302 Neb. 954, 925 N.W.2d 695 (2019).