New Jersey Statutes Title 45. Professions and Occupations 45 § 27-12

a. It is the public policy of this State that a primary obligation of each cemetery company shall be the creation of a fund for the permanent maintenance and preservation of the cemetery.

b. Every cemetery company shall establish an irrevocable trust fund, called the Maintenance and Preservation Fund, the income from which shall be expended for the maintenance and preservation of the cemetery.

c. A cemetery company shall make the deposits to the Maintenance and Preservation Fund required by this act and may make additional deposits.

d. The Maintenance and Preservation Fund shall be established in a State or federally regulated financial institution having and maintaining a principal place of business within this State. The fund shall be invested in accordance with the “Prudent Investor Act,” P.L.1997, c. 26 (C.3B:20-11.1 et seq.) and the income may be applied only to the maintenance of the cemetery.

e. For the purposes of this section, except as provided by regulations of the board, capital gains shall not be considered income, and shall be retained as principal.

f. The board shall supervise the creation and operation of the Maintenance and Preservation Fund and may regulate its operation and use.