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A BILL TO BE ENTITLED
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AN ACT
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relating to the administration of perpetual care trust funds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 712.021, Health and Safety Code, is |
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amended by adding Subsection (c-1) to read as follows: |
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(c-1) If a corporation has in the corporation's perpetual |
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care trust fund a balance in an amount greater than the minimum |
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capital amount the corporation is required by statute or rule to |
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maintain, the corporation may petition the banking department to |
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use that excess amount to: |
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(1) expand the perpetual care cemetery; or |
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(2) enhance the corporation's administrative |
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capabilities with regard to maintaining and caring for the |
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perpetual care cemetery. |
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SECTION 2. This Act takes effect September 1, 2023. |