Sec. 3. The persons filing a petition under section 2 of this chapter must: (1) state in the petition that the corporation would have at the time of taking over the cemetery an endowment or perpetual care fund of at least one thousand dollars ($1,000); (2) agree to increase the balance in the fund to an amount sufficient to produce enough interest to keep the cemetery in proper condition; and (3) agree to: (A) keep the cemetery in good order; and (B) honestly and faithfully manage the cemetery.
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