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§ 2370. Special Trusts.

16 CA ADC § 2370Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 16. Professional and Vocational Regulations
Division 23. Cemetery and Funeral Bureau (Refs & Annos)
Article 6. Special Care Funds (Refs & Annos)
16 CCR § 2370
§ 2370. Special Trusts.
Currentness
Trusts established for burial purposes pursuant to Section 8775 of the Health and Safety Code including cremation, hydrolysis, or other commodities or services furnished at the time of and in connection with such cremation, hydrolysis, or interment are under the supervision of the bureau and must comply with the following requirements:
(a) All moneys paid directly or indirectly and all securities delivered under the trust agreement or any agreement collateral thereto shall constitute the “trust corpus.”
(b) None of the trust corpus shall be used for payment of commission or other expenses of trust administration.
(c) The trust agreement shall specifically set forth any expenses to be charged to the trustor out of income to the trust or any portion of the trust corpus to be retained by the trustees or cemetery authority upon revocation and a copy thereof shall be delivered to the trustor; provided, however, such revocation fee to be retained by the trustee or cemetery authority shall not exceed ten (10) percent of the trust corpus.
(d) Other than as provided in Subsection (c) hereof, the trust income shall be used solely for the purposes authorized by Section 8775 of the Health and Safety Code.
(e) Unless specific property or securities are placed in trust by the trustor, investments of these funds shall be in investments authorized by law--for example, as authorized by Health and Safety Code Sections 8751 and 8751.1 as well as Civil Code Sections 2228 through 2239 and 2261.

Credits

Note: Authority cited: Sections 7606 and 7740, Business and Professions Code. Reference: Section 8775, Health and Safety Code.
History
1. New Article 6 filed 11-16-60; effective thirtieth day thereafter (Register 60, No. 23).
2. Amendment filed 9-2-69; effective thirtieth day thereafter (Register 69, No. 36).
3. Amendment filed 12-15-70; effective thirtieth day thereafter (Register 70, No. 51).
4. Amendment filed 8-24-82; effective thirtieth day thereafter (Register 82, No. 35).
5. Change without regulatory effect amending first paragraph filed 10-17-2011 pursuant to section 100, title 1, California Code of Regulations (Register 2011, No. 42).
6. Amendment of first paragraph and Note filed 6-17-2021; operative 6-17-2021 pursuant to Government Code section 11343.4(b)(3) (Register 2021, No. 25). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 16, § 2370, 16 CA ADC § 2370
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