35-21-601. Authority to establish endowment care fund -- commingling for investment. (1) Every mausoleum-columbarium authority which on or after July 1, 1949, maintains a mausoleum or columbarium may place its mausoleum or columbarium under endowment care and establish, maintain, and operate an irreducible endowment care fund.
     (2) Endowment care and special care funds may be commingled for investment and the income therefrom shall be divided between the endowment care and special care funds in the proportion that each fund contributed to the principal sum invested. The funds may be held in the name of the mausoleum-columbarium authority or its directors or in the name of the trustees appointed by the mausoleum-columbarium authority.

     History: En. Sec. 89, Ch. 35, L. 1949; R.C.M. 1947, 9-901.