|
House Bill 1948 |
House Author: Elkins |
|
Effective: 9-1-17 |
Senate Sponsor: Creighton et al. |
House Bill 1948 amends the Health and Safety Code to revise the administration and operation of certain trusts created to provide for the general care and maintenance of perpetual care cemeteries. The bill, among other provisions, provides for the modification of the method used to distribute funds to a corporation, the determination of the fair market value of certain funds and the total return percentage to be used for distributions from a total return trust, the regulatory limits on distributions, and the nature of total return distributions.