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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The part of the purchase price of a plot in a perpetual care cemetery that is to be deposited in a fund must be shown separately on the original purchase agreement from the total purchase price. A copy of the agreement shall be delivered to the purchaser of the plot.
(b) On the sale of a plot, a commission may not be paid to a broker or salesman on the amount to be deposited in the fund.
(c) A corporation shall deposit in its fund the amount required under Section 712.028 not later than the 20th day after the end of the month in which the original purchase agreement has been paid in full. A corporation may prepay funds into its fund at any time and, if a surplus exists in the fund from the prepayments, may credit against the surplus the amounts otherwise required to be deposited in the fund under Section 712.028 until the surplus has been depleted. In determining whether a surplus exists from prepayments, no part of the fund resulting from gifts to the fund under Section 712.030 may be considered.
Cite this article: FindLaw.com - Texas Health and Safety Code - HEALTH & SAFETY § 712.029. Accounting For and Depositing Amounts - last updated January 01, 2024 | https://codes.findlaw.com/tx/health-and-safety-code/health-safety-sect-712-029/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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