Each permanent maintenance fund shall have a written trust agreement governing the operation of the fund.   A copy of the trust agreement shall be filed with the Board.  Prior to an amendment of the agreement, the cemetery company or the trustee(s) shall submit to the Board a copy of the proposed amended agreement.  The amendment may not be effected until the Secretary of the Board or deputy designated by the Secretary approves the amendment in writing. 

If the permanent maintenance fund is established in accordance with Section 13(A)(2), minutes of trustees’ meetings must be maintained.  The minutes must be signed by all three trustees and must show the authorization of all purchases and sales of investments and disbursements of income.  If the trust agreement provides that only one trustee shall have sole disbursement authority, minutes must be prepared by that one trustee and submitted to the remaining trustees for ratification at least twice a year.