Chapter 02. Perpetual Care
Regulation .01 Scope.LinkCopy Citation
This chapter governs each sole proprietor registered cemeterian or permit holder for either human or pet remains who is required to have a perpetual care trust fund and identifies the information which must be provided to the Office of Cemetery Oversight as part of the perpetual care trust report.
Regulation .02 Definition.LinkCopy Citation
A.
In this chapter, the following term has the meaning indicated.
B.
Income of a Perpetual Care Trust Fund.
(1)
“Income of a perpetual care trust fund” means interest or dividends earned on the perpetual care trust fund.
(2)
“Income of a perpetual care trust fund” does not include realized capital gains of a perpetual care trust fund.
Regulation .03 Perpetual Care Report.LinkCopy Citation
The perpetual care trust report shall comply with the requirements of Business Regulation Article, §5-606, Annotated Code of Maryland.
Regulation .04 Realized Capital Gains of a Perpetual Care Trust Fund.LinkCopy Citation
Realized capital gains of a perpetual care trust fund are not income of the perpetual care trust fund and shall be deposited in the perpetual care trust fund as principal.
Chapter annotations
Authority: Business Regulation Article, §§5-204 5-605, and 5-606, Annotated Code of Maryland
History: Effective date: February 13, 2006 (33:3 Md. R. 241)
History: Regulation .01 amended effective April 29, 2024 (51:8 Md. R. 366)
History: Regulation .03 amended effective May 8, 2017 (44:9 Md. R. 438)