Subdivision 1. Like other funds. Deposits into the fund set up under section 365.29 must be treated the way other funds in the county treasury are treated. The deposit must not earn a lower rate of interest than is paid on county funds in the depository.
Subd. 2. Time certificates. The directors of a cemetery association may require money to be deposited in time certificates in the depository. The certificates must be in the name of the county treasurer and must be payable to the county treasurer or successors in office. The county treasurer shall get the highest rate of interest that the depository will pay on the time certificates. The interest rate must not be less than the current rate paid on time certificates by the depository. The county treasurer is just as liable on the county treasurer's bond for the principal and interest on the time certificates as for deposits of county money.
Subd. 3. Separate secured account. The town's cemetery fund money must be deposited in the depository in the name of the county. The bond or security given to the county by the depository is security for the fund money. The county treasurer shall keep an accurate and separate account of the fund money.
Subd. 4. Withdrawal, use of money. Annually the county treasurer shall withdraw money from the fund as directed by the town board and pay it to the directors of the cemetery. The directors may use the money only for purposes of sections 365.29 to 365.36.
History: (1019, 1020) 1911 c 224 s 6,7; 1917 c 161 s 6,7; 1986 c 444; 1987 c 229 art 8 s 1; 2008 c 187 s 4
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.