Opinion No.

Ms. Beverly Bassett, Secretary Arkansas Cemetery Board Heritage West Building, Third Floor 202 East Markham Little Rock, Arkansas 72201

Dear Ms. Bassett:

This is in response to your request for an opinion concerning the investment of cemetery permanent maintenance funds. Specifically, you note that each cemetery or cemetery company is required to maintain a permanent maintenance fund, the net income of which is to be used exclusively for the care and maintenance of the cemetery. The investment of this fund is governed by A.C.A.20-17-1013, which provides in pertinent part as follows:(a)(2) The…