Each person charged by an organization with the statutory responsibility of setting aside and depositing funds in a perpetual care fund, before entering upon the discharge of the person’s duties and annually thereafter, shall furnish a bond in the penal sum of an amount to be determined by the district court of the county wherein the organization is located. The size of the bond must be at least as large as the amount of money the person or the person’s predecessor deposited in the perpetual care fund during the organization’s previous fiscal year.

Terms Used In North Dakota Code 23-21.1-03.1

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
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