Loading chat...
MS SB2530
Bill
AI Summary
- Raises the perpetual care trust fund principal threshold from $50,000 to $75,000 for cemeteries that may use certificates of deposit instead of formal trust arrangements
- Extends the allowable maturity period for certificates of deposit from 30 days to one year or less
- Certificates of deposit must be issued by FDIC-insured institutions and labeled "For Perpetual Care"
- Once a cemetery's perpetual care principal exceeds $75,000, funds must be transferred to an irrevocable trust managed by a trustee
- Takes effect July 1, 2026
Legislative Description
Perpetual care cemetery; allow certain cemeteries to maintain CDs that mature in one year or less.
Last Action
Approved by Governor
3/13/2026
Committee Referrals
Business and Commerce2/12/2026
Business and Financial Institutions1/19/2026
Full Bill Text
No bill text available