Sec. 173.109. - Deposits in trust.

There shall be set aside and deposited in the perpetual care and maintenance trust fund an amount not less than ten percent of the purchase price of the burial sites sold, not later than 30 days after receipt of payment; provided that such amount shall not be less than $25, except as follows: (a) For general endowment, care and maintenance of the cemetery, the full amount of sums received shall be set aside and deposited. (b) For special endowments for a specific lot, grave or family mausoleum, memorial, marker or monument, the cemetery may set aside special care in a separate trust or by a deposit to a savings account in a bank or savings and loan association located within and authorized to do business in the State; provided, that if the licensee does not set up a separate trust or savings account for the special endowment, the full amount thereof shall be deposited into the care and maintenance trust fund as required of general endowments. The care and maintenance trust fund shall be invested and reinvested by the trustee under the provisions of F.S. Ch. 518, as the same may be from time to time amended. The fees and other expenses of the trust fund shall be paid by the trustee from the net income thereof and may not be paid from the corpus. To the extent that the net income is not sufficient to pay such fees and other expenses, they shall be paid by the cemetery company. (Ord. 73-718-335, § 1; Ord. 83-591-400, § 1) Note— Former § 510.109.