365.33 HOW COUNTY TO TREAT TOWN CEMETERY MONEY.
Subdivision 1. Like other funds.
Deposits into the fund set up under section
treated the way other funds in the county treasury are treated. The deposit must not earn a lower
rate of interest than is paid on county funds in the depository.
Subd. 2. Time certificates.
The directors of a cemetery association may require money to be
deposited in time certificates in the depository. The certificates must be in the name of the county
treasurer and must be payable to the county treasurer or successors in office. The county treasurer
shall get the highest rate of interest that the depository will pay on the time certificates. The
interest rate must not be less than the current rate paid on time certificates by the depository. The
county treasurer is just as liable on the county treasurer's bond for the principal and interest on the
time certificates as for deposits of county money.
Subd. 3. Separate secured account.
The town's cemetery fund money must be deposited
in the depository in the name of the county. The bond or security given to the county by the
depository is security for the fund money. The county treasurer shall keep an accurate and
separate account of the fund money.
Subd. 4. Withdrawal, use of interest.
Annually the county treasurer shall withdraw the
interest earned on the fund money and pay it to the directors of the cemetery. The directors may
use the interest only for purposes of sections
History: (1019, 1020) 1911 c 224 s 6,7; 1917 c 161 s 6,7; 1986 c 444; 1987 c 229 art 8 s 1