located,then and only then, such endowmentfund may be establishedwith a Board of Trustees composedof three (3) or more persons,no two (2) of the trusteesof which shallbe directorsof such cemeteryassociation."
We find no expressionin this Sectionas originallyen- acted or as amendedindicatingan intentionon the part of the Legislatureto requirethat perpetualcare funds be deposited only in a trust companyor bank with trust powers locatedwithin the county in which the cemeteryassociationis located. It is . .
Hon. J. M. Falkner,Page 3 (v-1281)
the opinionof this officethat the act of the cemeteryasso- ciation in entrustingthe endowmentfund to the First National Bank of Beaumont,outsidethe home county of the association, IS within its legal authority.
Under Articlegl2a-15,V.C.S., a perpetualcare cemeteryassociationis authorizedto deposit its tNSt funds with B tNst Colnpany Or bank hENing tNSt powers cstsidethe countywherein such associationis located.
yours very truly, APPROVED: PRICR DANIEL Attorney General Everett Hutchinson ExecutiveAssistant
Charles D. Mathews First Assistant
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