ENTITLED, An Act to revise certain provisions relating to the use of principal and interest in
cemetery perpetual funds and to require perpetual cemeteries to submit an annual financial report
to the secretary of state.
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;
(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.
Section 2. That chapter 55-12 be amended by adding thereto a NEW SECTION to read as
follows:
A perpetual cemetery, as defined in § 55-12-4, or a perpetual cemetery corporation operating
under chapter 47-29 shall file an annual financial report for the preceding fiscal year with the
secretary of state by July thirty-first of each year on a form prescribed by the secretary of state.
An Act to revise certain provisions relating to the use of principal and interest in cemetery perpetual
funds and to require perpetual cemeteries to submit an annual financial report to the secretary of
state.
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I certify that the attached Act
originated in the
HOUSE as Bill No. 1127
____________________________
Chief Clerk
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____________________________
Speaker of the House
____________________________
Chief Clerk
____________________________
President of the Senate
____________________________
Secretary of the Senate
House Bill No. 1127
File No. ____
Chapter No. ______
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Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
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The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
____________________________
Governor
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STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
____________________________
Secretary of State
By _________________________
Asst. Secretary of State
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