{"data":{"id":"us-ky/krs-367.952","jurisdiction":"us-ky","citation":"KRS 367.952","heading":"Perpetual care and maintenance -- Creation of funds by cemetery","body":"companies -- Required payments -- Local government exemption --\nTermination, distribution, and use of funds in local government trust fund.\n(1) Every seller of the items described in subs ection (2)(a) of this section shall first\nprovide for the future care and maintenance of such items, and to accomplish this\npurpose shall cause to be established in a financial institution authorized by law to\nadminister trust funds, or in any other financially sound entity with the prior written\napproval of the Attorney General, an irrevocable trust fund to be known as a\nperpetual care and maintenance fund. The income of such funds shall be used solely\nfor the general care, maintenance, and embellishment o f the cemetery, except as\notherwise provided herein.\n(2) (a) Every seller of the items described in this paragraph shall place the following\namounts into the perpetual care and maintenance fund of the cemetery in\nwhich the item is located within thirty (30 ) days after each calendar quarter of\noperations for each payment of each sale which occurs or contract of sale\nentered into after July 13, 1984:\n1. Twenty percent (20%) of the gross selling price of each grave space,\nwith a minimum of twenty dollars ($20) per grave space;\n2. Underground crypt, five percent (5%) of the gross selling price with a\nminimum of twenty-five dollars ($25) per crypt;\n3. Mausoleum crypt, five percent (5%) of the gross selling price with a\nminimum of fifty dollars ($50) per mausoleum crypt; and\n4. Columbarium niche, ten percent (10%) of the gross selling price with a\nminimum of fifteen dollars ($15) per niche.\n(b) For the purposes of this section, \"gross selling price\" shall not include interest,\ncarrying charges or finance charges.\n(c) Every cemetery company hereinafter established shall create and maintain a\nperpetual care and maintenance fund, depositing therein an initial deposit as\nlisted below, and shall submit proof thereof to the Attorney General prior to\nthe offering for sale of any burial rights. Any payment required under\nparagraph (a) of this subsection shall be credited against the initial deposit\nuntil the required sum has been reached:\n1. In counties of fewer than 50,000 persons, $20,000;\n2. In counties of 50,000 to 99,999 persons, $30,000;\n3. In counties of 100,000 or more persons, $50,000.\n(3) In the event that a purchaser is in default of a c ontract purchasing any of the items\ndescribed in subsection (2)(a) of this section, the financial institution shall release to\nthe depositor the funds, plus interest, deposited on behalf of the defaulted contract\nupon receiving from the depositor a sworn a ffidavit stating that the purchaser is in\ndefault of the contract, the date of the default, an explanation of the default and that\nthe depositor mailed a copy of the affidavit to the purchaser's last known address at\nleast thirty (30) days prior to said request for release.\n(4) This section does not apply to any cemetery that is owned and operated by a local\ngovernment. For the purposes of this section, \"local government\" means cities,\ncounties, urban -county governments, charter county governments, consolid ated\nlocal governments, and unified local governments.\n(5) Any local government that has established a trust fund pursuant to subsection (1) of\nthis section may petition the Circuit Court pursuant to KRS 386B.2 -010 and\n386B.2-030 for termination of the tru st and distribution of the funds to the local\ngovernment for use solely for the general care, maintenance, and embellishment of\nthe cemetery.\n(6) Any funds distributed to the local government pursuant to subsection (5) of this\nsection shall be held separately from funds subject to the local government's general\npower of appropriation.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43162","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:06Z","sha256":"fa8a71fe59fad97e30e0c48dbb1f1e9650bf8b875b3ddecfe71b4a8acdabc360","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.950","next":"us-ky/krs-367.954"},"notice":"GroundRules: Original legal text. Not legal advice."}