Details for the care-fund worksheet and trustee status

Section 9(c) excludes the first $15,000 of care funds when computing the security and sets a $1,000 minimum where it is required. The Comptroller's current worksheet first identifies funds entrusted to qualifying corporate fiduciaries and those held elsewhere. It then applies the $15,000 exclusion and 10% calculation to the non-corporate-fiduciary column, subject to the required minimum.

Have PLACE confirm the actual worksheet, year-end net assets, required minimum and any excused additional security. An independent trustee is not automatically a qualifying corporate fiduciary. Section 18's written-permission process and possible employee-handling fidelity requirement mean that moving funds to another trustee does not by itself cancel all security.

The current annual-report instructions require increased security when the reported care funds increase, unless otherwise excused. Supply the appropriate bond, rider or accepted letter of credit with the report. If the Comptroller finds a bond insecure, exhausted or doubtful, Section 17 requires an approved additional bond within 30 days after written demand.

Match the legal cemetery authority, care-fund license number and actual cemetery location. The statute requires a care-fund license even when an independent trustee holds the funds, and provides separate licenses for cemetery locations. Confirm how the accepted undertaking applies to each location rather than assuming a business name covers them all.

A qualifying irrevocable, unconditional letter of credit is an alternative under the Act, but Purchase Now here opens the bond application. Keep the care-fund deposits and reports current. Surrendering a license does not automatically discharge earlier liability or the bond; coordinate the accepted undertaking's actual dates, continuation, release and filing with the Comptroller.