Sec. 712.004. PERPETUAL CARE TRUST FUND REQUIRED. (a) Before obtaining a corporate charter, the incorporators of a corporation chartered on or after September 3, 1945, and before September 1, 1993, must establish a fund by permanently depositing in cash with the trustee of the fund: (1) $15,000, if the corporation has capital stock of $15,000; (2) $30,000, if the corporation has capital stock of $30,000; or (3) $50,000, if the corporation has capital stock of $50,000 or more. (b) Before obtaining a corporate charter, the incorporators of a corporation chartered on or after September 1, 1993, must establish a fund by permanently depositing in cash with the trustee of the fund an amount of not less than $50,000 for each perpetual care cemetery operated in this state. (c) The fund shall be permanently set aside and deposited in trust with the trustee in accordance with Subchapter B.
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