Collection of fixed amount for upkeep and maintenance

Sec. 5. (a) An incorporated cemetery that extends its boundaries to include the grounds of an unincorporated cemetery under section 2 of this chapter, instead of levying a periodic assessment against the owner of a lot under section 3 of this chapter, may collect a fixed amount from the owner in full satisfaction of all future assessments against the lot for the upkeep and maintenance. (b) A cemetery association that receives money from the owners of lots under subsection (a) shall: (1) hold and invest the money as a fund for the upkeep and maintenance of the lots; and (2) expend only the income earned from the investment of the money under subdivision (1) in the care of the lots. (c) After a cemetery association receives money from the owners of lots under subsection (a), the association shall keep and care for the lots. As added by P.L.52-1997, SEC.46.