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MS SB2530
MS SB2530Perpetual care cemetery; allow certain cemeteries to maintain CDs that mature in one year or less.
summary
Introduced
01/19/2026
01/19/2026
In Committee
02/12/2026
02/12/2026
Crossed Over
02/09/2026
02/09/2026
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 41-43-37, Mississippi Code Of 1972, To Increase From $50,000.00 Or Less To $75,000.00 Or Less The Perpetual Care Trust Fund Principal For Which A Perpetual Care Cemetery May Maintain Certificates Of Deposit; To Increase From 30 Days To One Year Or Less The Maturity Date For Such Certificates Of Deposit; And For Related Purposes.
AI Summary
This bill amends Mississippi law to allow perpetual care cemeteries, which are cemeteries that maintain a trust fund for ongoing maintenance, to hold certificates of deposit (CDs) that mature in one year or less, an increase from the previous 30-day limit, provided the total principal in their perpetual care trust fund is $75,000 or less, an increase from the previous $50,000 limit. These CDs, issued by institutions insured by the Federal Deposit Insurance Corporation (FDIC), will automatically renew with earned interest added to the principal, and collections owed to the trust from sales can be added upon the CD's maturity date instead of the usual fifth day of the following month. Once a cemetery's perpetual care principal exceeds $75,000, these funds must be held in an irrevocable trust managed by a trustee.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred To Business and Commerce (on 02/12/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2530.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2500-2599/SB2530PS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2500-2599/SB2530IN.htm |
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