365.36 INVESTMENT OF CEMETERY FUND.
Subdivision 1. Like school fund.
A cemetery's directors or, if none, the town board shall
invest the principal of the cemetery fund in the kind of securities that the permanent school fund
may be invested in. This section controls the investment of the principal of the fund.
Subd. 2. County treasurer's duties.
The town board and the cemetery directors may require
the county treasurer to withdraw money from the depository for investment under this section.
The securities invested in must remain with the county treasurer. The bond of the county treasurer
is security for the proper care of the securities. The bond is also security for the payment to
the cemetery directors of interest earned by the securities and received by the treasurer. On
receiving payments on the securities the county treasurer shall deposit the payments in the county
depository. The county treasurer also shall collect the interest on money loaned from the fund. The
county treasurer shall then pay the money received and collected to the directors of the cemetery
when they ask for it. Annually the county treasurer shall pay the cemetery directors all interest on
money received or collected on money deposited or invested under sections
Subd. 3. Treasurer's report and statements.
Before March 2 each year the county treasurer
shall make a report to the town board. The report must have a statement of all money received
by the treasurer under sections
during the last calendar year. The statement
(1) the amount of money and the amount of securities in the permanent fund on the first day
of the calendar year;
(2) the amount of money paid into the fund during the year;
(3) the amount of money invested in securities in the year;
(4) the amount of money and the amount of securities in the fund at the end of the calendar
(5) the amount of interest collected on the fund and turned over to the directors; and
(6) the amount of excess interest returned by the directors, deposited in the treasury, and
added to the permanent fund.
History: (1023) 1911 c 224 s 10; 1917 c 161 s 9; 1986 c 444; 1987 c 229 art 8 s 1