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California CodesBusiness and Professions Code - BPCDivision 3 — Professions and Vocations GenerallyChapter 12 — Cemetery and Funeral ActArticle 9 — Preneed Funeral ArrangementsSection 7738

A licensed funeral establishment that is also a licensed cemetery authority shall not deposit any money or securities received in connection with preneed funeral arrangements in a special endowment care fund as provided in Article 4 (commencing with Section 8775) of Chapter 5 of Part 3 of Division 8 of the Health and Safety Code, nor shall a licensed funeral establishment permit the deposit of any money or securities received in connection with a special endowment care fund into a preneed funeral trust fund. Nothing in this section shall require the liquidation or conversion of any lawful investment existing on December 31, 1981.

Notes

Prohibits a funeral establishment that is also a licensed cemetery authority from placing preneed-funeral money or securities in a special endowment care fund, and prohibits a funeral establishment from placing special-endowment-care money or securities in a preneed funeral trust. Exempts lawful investments existing on December 31, 1981, from any required liquidation or conversion.

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Lexinter.net | California Code, Business and Professions Code - BPC § 7738 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-12/article-9/section-7738

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