NC S18

Requires Cemetery Commission approval of trust fund sufficiency or surety bond before approving any change of control of a cemetery company, effective October 1, 2010.

Expands trustee qualifications to include credit unions in addition to banks and trust companies, and changes perpetual care trust fund investment standards to align with G.S. 32-71 instead of prior banking law references.

Mandates cemetery contracts list separate costs for opening and closing grave spaces, and prohibits requiring purchasers to buy vaults from the cemetery or specific sellers (with allowance for up to $20 inspection/delivery fee).

Extends the allowable construction completion extension for mausoleums and belowground crypts from one year to three years upon Commission approval.

Creates an 11-member Legislative Study Commission to examine Cemetery Act issues including trust account security, bond requirements, consumer protections, and potential establishment of a consumer recovery fund, with final report due to the 2011 General Assembly.