§ 301. Initial deposits by newly-organized cemetery companies.
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§ 301. Initial deposits by newly-organized cemetery companies.
(a)General rule.-- No cemetery company shall establish a cemetery, or dispose or make sale of any lot therein, without first causing to be deposited with a qualified trustee a sum of not less than $25,000 as a permanent lot care fund.
(b)Exceptions.-- The provisions of subsection
(a)of this section shall not apply to any of the following:
(1)A bona fide church or religious congregation.
(2)An association created by a bona fide church or religious congregation.
(3)A municipality.
09c301v
(June 28, 2024, P.L.430, No.34, eff. 60 days)
2024 Amendment. Act 34 amended subsec. (b).
Cross References. Section 301 is referred to in sections 304, 305, 306 of this title.
09c302s