N.Y. Comp. Codes R. & Regs. tit. 19 § 201.20

Current through Register Vol. 46, No. 43, October 23, 2024

Section 201.20 - Permanent maintenance fund collections and contributions

(a) All permanent maintenance fund deposits required by N-PCL section 1507 shall be made at least quarterly.

(b) A cemetery that receives payment in installments or over time for a lot, plot or part thereof, shall deposit to the permanent maintenance fund the full amount required by N-PCL section 1507 on the entire sale either:

(1) in lump sum at the time the contract is signed and any initial payment is received; or

(2) by depositing at least ten percent (10%) of any initial payment and each installment payment to the permanent maintenance fund as such payments are received until the full amount required by N-PCL section 1507 on the entire sale has been deposited to the fund

N.Y. Comp. Codes R. & Regs. Tit. 19 § 201.20

Adopted New York State Register March 9, 2016/Volume XXXVIII, Issue 10, eff.3/9/2016