FOR AN ACT ENTITLED, An Act to increase the amount of income and principal of a perpetual fund used to maintain a cemetery.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. That § 47-29-22 be amended to read as follows:
    47-29-22. A cemetery corporation shall also have has power:

            (1)    To establish a perpetual fund of which only the income shall to be used in purchasing and maintaining mowing equipment, hiring maintenance staff, caring for, ornamenting, beautifying, and improving its grounds;. No more than six percent of the combined income and principal in a perpetual fund may be used annually for these purposes;

            (2)    To receive donations, devises, and legacies for such purpose; and

            (3)    To elect three trustees to care for and invest such trust fund in such manner and under such restrictions and for such term or terms as may be prescribed by its articles of incorporation or bylaws.

    The directors of any such corporation shall have power to require bonds from such trustees,

from time to time, conditioned for the faithful discharge of their duties in such amounts as such board may deem necessary for the safety and proper security of such fund; and such trustees shall be required to account at least once each year for all income arising from such perpetual fund and to make a full and detailed report of the condition of such the fund whenever if required by the board of directors.