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 also has power:
(1) To establish a perpetual fund 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 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 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 the fund if required by the board of directors.
An Act to increase the amount of income and principal of a perpetual fund used to maintain a
I certify that the attached Act
originated in the
HOUSE as Bill No. 1069
Speaker of the House
President of the Senate
Secretary of the Senate
House Bill No. 1069
File No. ____
Chapter No. ______
Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
STATE OF SOUTH DAKOTA,
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
Secretary of State
Asst. Secretary of State