2005 Connecticut Code - Sec. 19a-301. (Formerly Sec. 19-152). Establishment and management of perpetual funds. Accounting.
Sec. 19a-301. (Formerly Sec. 19-152). Establishment and management of perpetual funds. Accounting. (a) Any cemetery association, organized as provided by
law, may, by vote of the directors or members of such association, set aside the surplus
funds of such association as a perpetual fund. Such fund shall be invested in accordance
with the provisions of the statutes concerning the investment of trust funds. Such fund,
together with any donation received by an ecclesiastical society or cemetery association
pursuant to section 19a-303, shall be under the control, management and supervision
of a committee of not fewer than three persons elected by such association or society.
Such ecclesiastical society or cemetery association shall meet at least once annually.
The treasurer of such society or association shall be, ex officio, the treasurer of such
committee, and shall give bond, with surety, to the satisfaction of such committee, for
the faithful discharge of his duties. He shall expend the income from such fund or donation for the management, care and maintenance of any cemetery owned or controlled
by such ecclesiastical society or cemetery association, or for the purpose set forth in the
instrument or declaration of trust regulating the use of such donation or fund if such
instrument or declaration of trust should otherwise provide, at the times and in the
manner designated by such society or association. The treasurer shall annually, on or
before July first, make a report to such society or association, stating the income received,
to whom it has been paid, the amount and condition of the fund and how it is invested.
A copy of such report shall be filed with the probate court for the district within which
the cemetery owned or controlled by the society or association is located. Any treasurer
who fails to file such report with the probate court shall be fined not more than fifty
dollars.
(c) The action to submit an accounting to the court shall not subject the fund to the continuing jurisdiction of the court.
(d) Upon the allowance of any such account, the court shall determine the rights of the parties, subject to appeal as in other cases.
(1949 Rev., S. 4714; 1953, S. 2359d; P.A. 98-219, S. 12.)
History: Sec. 19-152 transferred to Sec. 19a-301 in 1983; P.A. 98-219 added Subsecs. (b), (c) and (d) re petition of Probate Court to require accounting of perpetual fund by Treasurer.
Disclaimer: These codes may not be the most recent version. Connecticut may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.