What percentage must a cemetery company pay into the care and maintenance trust fund?

A cemetery company in Florida is required to pay 10% of the purchase price of each burial right or interment space into a care and maintenance trust fund. This regulation is established to ensure that funds are set aside for the ongoing maintenance and care of the cemetery, providing a safeguard for future generations and ensuring that the cemetery remains well-kept. This percentage is a standard practice in Florida to ensure that cemetery companies are contributing to the long-term maintenance of their facilities, which is critical for their sustainability and the peace of mind of families who purchase burial rights.

Using a percentage like 10% allows for a consistent and manageable contribution level, helping to establish a reliable funding source dedicated specifically to the upkeep of the cemetery. Other options like 5%, 15%, or 20% are not regulated percentages for this purpose within Florida law, making the 10% contribution distinctively correct. Understanding this requirement helps in comprehending the fiscal responsibilities and regulatory compliance that cemetery companies must adhere to in Florida.