2006 Nebraska Revised Statutes - § 12-1103 — Pre-need sale; proceeds; trust requirements.
Section 12-1103Pre-need sale; proceeds; trust requirements.
Except as otherwise provided in the Burial Pre-Need Sale Act, proceeds received by any pre-need seller as partial or complete payment on a pre-need sale shall be deposited with a trustee within sixty days after receipt. The proceeds of the pre-need sale required to be deposited with a trustee shall be deposited either with a trustee under the terms of a master trust agreement or with a trustee in a separate trust account in the name of the pre-need purchaser. In either event, the money so deposited shall be held in trust by the trustee pursuant to the terms of the Burial Pre-Need Sale Act.
Source:
- Laws 1986, LB 643, § 3
~Reissue Revised Statutes of Nebraska
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