The Board shall be notified prior to any change in the type of trustee arrangement or in the trustee(s) by either the cemetery company or the trustee(s). 

Any cemetery company holding a permit from the Board on March 4, 1997, the effective date of the Act, shall continue to deposit the same percentage of gross proceeds of each sale of lots or grave spaces or mausoleum crypts into the permanent maintenance fund that was being deposited prior to the adoption of the Act.  As set forth in Rule 8.01(C), cemetery companies filing an application for a new cemetery or an extension of the boundaries of an existing cemetery shall deposit not less than 20% of the gross proceeds of each sale for the cemetery and covered by the application unless the cemetery company can show cause why the Board should allow a lesser percentage.  Cemetery companies filing an application to amend a permit to construct a mausoleum shall deposit not less than $40.00 per crypt into the permanent maintenance fund.  The Board may require larger deposit contribution rates if it finds that the amounts being deposited into the permanent maintenance fund will not earn sufficient income to provide care and maintenance of the cemetery. 

A cemetery company who maintains house accounts receivable in accordance with Section 13 of the Act and deposits the required percentage when the contract is paid in full or as each installment is received, shall make such deposit not later than the 45th day after receipt of payment.  A cemetery company who makes a monthly contribution to the permanent maintenance fund shall make the deposit no later than the 15th day of the month following the month in which the cemetery company received payment from the purchaser. 

A cemetery company which elects to discount installment sales contracts shall first file with the Secretary of the Cemetery Board a copy of the agreement with the financial institution which agreement shall set forth the terms under which the escrow account is restricted.  Should the Secretary of the Cemetery Board determine that the agreement does not adequately proved the safe­guards provided by Section 13 of the Act, the Secretary shall ask the Board to review the agreement at a public hearing held in accordance with Section 4 of the Act and Rule 4.

If a fidelity bond is required pursuant to Section 13(A)(2) of the Act, the bond shall indemnify the insured permanent maintenance fund against loss of money or property which the fund shall sustain through fraudulent or dishonest acts committed by trustees having disbursement authority.  The bond shall remain in full force and effect from the effec­tive date of the bond until it is terminated by the surety thereon, and such bond shall provide that thirty (30) days notice must be given to the State Securities Commissioner by the surety prior to the effective date of termination.  Any modification to the bond must likewise be filed with the Board. 

Should the cemetery company elect to establish a perma­nent maintenance fund in accordance with Section 13(A)(3) of the Act, each bank or savings and loan association into whose accounts the permanent maintenance funds are to be deposited shall furnish the Board with a letter setting forth that all funds deposited shall be federally insured, that the funds except the interest earned thereon will be restricted so that they may not be pledged, withdrawn or otherwise encumbered without written authorization of the Secretary of the Board, and the name of the trustee who may withdraw the interest.  Permanent maintenance funds deposited in any one bank or savings and loan associa­tion in excess of the maximum Federal Deposit Insurance Corporation or Federal Savings and Loan Insurance Corporation insurance shall be deemed to be federally insured if the bank or savings and loan association pledges specific securities which are direct obligations of the United States government or agencies whose securities are guaranteed by the United States government as collateral for the funds in excess of the FDIC or FSLIC insurance coverage. 

Each cemetery company shall file with the Board a copy of the rules and regulations and any changes thereto regulating the general care and maintenance of the cemetery within 45 days after adoption. 

If the Board finds that a cemetery company must pay a penalty as provided in Section 13 of the Act, the cemetery company must submit proof from the trustee(s) of payment of such penalty to the Board.