SB0440 - Tennessee: Cemeteries

Companion Bill HB0352. Cemeteries - Authorizes a certificate of deposit be submitted for security for operation and maintenance of a cemetery. - Amends TCA Title 46, Chapter 1, Part 2. Fiscal Summary for SB0440 / *HB0352Increase State Revenues - $71,000/Recurring $3,200/One-Time Increase State Expenditures - $71,000/Recurring $3,200/One-Time Bill Summary for SB0440 / *HB0352 Present law requires cemetery companies in the state to maintain sufficient improvement care trust funds for the maintenance, upkeep, and beautification of cemeteries. This bill allows a cemetery company to have either an improvement care trust fund or a certificate of deposit. The required amount of the certificate of deposit would be the same as the amount of cash or surety bond required to be placed in a trust fund under present law, which is dependent [...]

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