(2) “Cemetery authority” has the meaning given in s. 157.061 (2), Stats. (3) “Financial institution” has the meaning given in s. 705.01 (3), Stats. (4) “Preneed trust fund” has the meaning given in s. 157.061 (13), Stats. Section 2. CB 2.015 is repealed.
Section 3. CB 4.015 is repealed.
Section 4. CB 4.05 is amended to read:
CB 4.05 Verification of deposit. Within 30 days after the transfer of the care fund or preneed trust fund, the trustee cemetery authority shall submit information to the board verifying the transfer, including the amount deposited, the date the deposit was made, and the account number of the fund. In addition, the cemetery authority shall request that the new trustee submit the same information to the board verifying the receipt of the funds.
Section 5. CB 5.03 (intro.) and (1) are consolidated, renumbered, and amended to read:
CB 5.03 Definitions. As used in this chapter: (1) “Alternative alternative investment means the use of care funds received from the sale of cemetery lots by a cemetery authority to purchase investment instruments, rather than depositing the care funds in a financial institution under s. 157.19, Stats., or with the treasurer of the county or city in which the cemetery is located. Section 6. CB 5.03 (2) is repealed.
Section 7. EFFECTIVE DATE. The rules adopted in this order shall take effect on the first day of the month following publication in the Wisconsin Administrative Register, pursuant to s. 227.22 (2) (intro.), Stats. ------------------------------------------------------------------------------------------------------------
(END OF TEXT OF RULE)
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Dated __August 11, 2020 __________________________________
Chair
