South Carolina Code of Regulations
Chapter 21 - SOUTH CAROLINA CEMETERY BOARD
Subarticle 2 - CARE AND MAINTENANCE TRUST FUNDS
Section 21-11 - Care and Maintenance Trust Funds

Universal Citation: SC Code Regs 21-11

Current through Register Vol. 48, No. 9, September 27, 2024

(A) Pursuant to Section 40-8-110(C), each time a space is sold, the cemetery must deposit the amount which the cemetery charges for perpetual care into the Care and Maintenance Trust Fund. The trustee must furnish to the board, within ninety (90) days of the end of the calendar year, an annual summary of the beginning balance, all deposits, all withdrawals, and the ending balance of the trust account.

(B) Pursuant to Section 40-8-110(C), the cemetery must also trust the greater of 0.08 cents per square inch or the actual amount charged for the long term care of a marker. Dates of payment and deposit must be put in writing and recorded.

(C) Pursuant to Section 40-8-110(E), capital gains are not net income, but growth in the corpus. Net income is the current year's earnings of interest and dividends.

Disclaimer: These regulations may not be the most recent version. South Carolina 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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.