Perpetual care fund deposits for columbariums., the official text

First Regular Session of the 124th General Assembly (2025)

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  SENATE ENROLLED ACT No. 520

   AN ACT to amend the Indiana Code concerning business and other
associations.

   Be it enacted by the General Assembly of the State of Indiana:

   SECTION 1. IC 23-14-48-5, AS AMENDED BY P.L.33-2019,
SECTION 5, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 5. (a) In addition to meeting the requirements
of sections 1 through 3 of this chapter, a cemetery that:

      (1) is organized after June 30, 1997, by incorporation, or any
      other means; or
      (2) has its first burial, entombment, or inurnment after June 30,
      1997;
shall, before disposing of a burial lot or right, making a sale of a burial
lot or right, or making its first burial, entombment, or inurnment cause
to be deposited in a financial institution one hundred thousand dollars
($100,000) in cash in the perpetual care fund established under this
chapter for the maintenance of the cemetery.
   (b) The cemetery owner shall designate the financial institution as
trustee of the fund. The financial institution must execute an affidavit
stating that it has accepted the trusteeship of the fund and that the one
hundred thousand dollars ($100,000) has been deposited in the fund.
The cemetery shall:
      (1) exhibit the affidavit in the principal office of the cemetery;
      (2) keep the affidavit available at all times for examination; and
      (3) record the affidavit in the miscellaneous records in the office

SEA 520 — Concur
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      of the recorder of the county in which the cemetery is located.
   (c) When the cemetery has deposited in the perpetual care fund, as
required by this section, two hundred thousand dollars ($200,000):

      (1) the cemetery shall submit proof of this fact to its trustee; and
      (2) the trustee shall pay over to the cemetery one hundred
      thousand dollars ($100,000) that the cemetery deposited in the
      fund under subsection (a).
   (d) This section does not apply in the case of a cemetery
consisting of a columbarium or a community columbarium:
      (1) installed before January 1, 2026; and
      (2) owned by a nonprofit organization that:

         (A) focuses on veterans;
         (B) is exempt from federal income taxation under Section
         501(c)(3) of the Internal Revenue Code; and
         (C) deposits for each transfer of a niche:

            (i) ten percent (10%) of the retail sale amount into the
            perpetual care fund established under this chapter for
            the maintenance of the cemetery; and
            (ii) ninety percent (90%) of the retail sale amount into an
            irrevocable trust fund for the purpose of maintaining the
            grounds and facilities.
   SECTION 2. An emergency is declared for this act.

SEA 520 — Concur
President of the Senate

President Pro Tempore

Speaker of the House of Representatives

Governor of the State of Indiana

Date:                             Time:

SEA 520 — Concur