044-28 Wyo. Code R. §§ 28-3 - Perpetual Care Trust Fund

(a) Each seller shall establish a perpetual care trust fund before the advertisement or sale of disposition sites. All income and interest from the fund shall be used exclusively for perpetual care. The trust fund shall be irrevocable and deposited in Wyoming at a licensed bank, trust company, or federal savings and loan association and shall be invested as required herein.

(b) The deposit into the perpetual care trust fund shall be made by the seller not later than thirty (30) days after the close of the month in which any payment was received for the purchase of any disposition site. If payments are received in installments, the applicable pro rata share of each payment shall be deposited.

(c) A seller must deposit with the trustee an initial sum of ten thousand dollars ($10,000) or more in cash. When deposits in the trust fund have reached $20,000, the seller may withdraw deposits at the rate of one thousand dollars ($1,000) for each additional two thousand dollars ($2,000) added to the fund. No funds may be withdrawn from the Perpetual Care Trust Fund without the written authorization of the Commissioner or his designee.

Notes

044-28 Wyo. Code R. §§ 28-3

Amended, Eff. 7/13/2017. Amended, Eff. 5/16/2023.