AR SB462

Amends Arkansas Cemetery Board authority to conduct examinations of cemeteries, including their physical condition, financial status, and trust funds, with examinations carried out by board members, certified public accountants, or State Securities Department employees.

Establishes examination fees of $60 per day for each examiner plus reimbursement for travel, meals, and lodging expenses, with cemetery companies also paying board member expenses for examinations ordered on the board's own motion.

Allows the Cemetery Board to waive application requirements for state, city, or municipal governments, or nonprofit organizations as defined by Internal Revenue Code § 501(c)(3).

Modifies permanent maintenance fund investment rules to allow funds with assets exceeding $250,000 to invest up to 50% in nonassessable common stocks, preferred stocks, and investment trust securities, with a limit that only 50% of annual realized net capital gains after January 1, 2013, may be considered income.

Adds penalties for trustees failing to protect fund principal ($25 per day, capped at $1,000) and for late annual reports ($50 per day until filed), and assigns State Securities Department authority to perform regular audits and examinations of perpetual care cemeteries.