Tex. Health & Safety Code Section 712.003
Registration Required; Minimum Capital


(a)

A perpetual care cemetery may not be operated in this state unless a certificate of formation for a domestic filing entity or registration to transact business for a foreign filing entity is filed with the secretary of state showing:

(1)

subscriptions and payments in cash for 100 percent of the entity’s ownership or membership interests;

(2)

the location of its perpetual care cemetery; and

(3)

a certificate showing the deposit in its fund of the minimum amount required under Section 712.004 (Perpetual Care Trust Fund Required).

(b)

A corporation chartered on or after September 5, 1955, and before September 1, 1993, must have a minimum capital of:

(1)

$15,000, if the cemetery serves a municipality with a population of less than 15,000;

(2)

$30,000, if the cemetery serves a municipality with a population of 15,000 to 25,000; or

(3)

$50,000, if the cemetery serves a municipality with a population of at least 25,000.

(c)

A corporation chartered on or after September 1, 1993, and before September 1, 2013, must have:

(1)

a minimum capital of $75,000; and

(2)

a minimum of $75,000 in capital for each certificate of authority to operate a perpetual care cemetery issued to the corporation on or after September 1, 2013.

(c-1)

A corporation whose certificate of formation takes effect on or after September 1, 2013, must have a minimum of $75,000 in capital for each certificate of authority to operate a perpetual care cemetery issued to the corporation.

(d)

A nonprofit association or corporation operated solely for the benefit of plot owners seeking to convert a cemetery to a perpetual care cemetery under this chapter is not required to meet the requirements prescribed by this section and Section 712.004 (Perpetual Care Trust Fund Required) if the cemetery has existed for at least 75 years and the association or corporation has operated the cemetery for the preceding 10 years.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by Acts 1991, 72nd Leg., ch. 14, Sec. 218, eff. Sept. 1, 1991; Acts 1993, 73rd Leg., ch. 634, Sec. 26, eff. Sept. 1, 1993.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 532 (H.B. 2495), Sec. 6, eff. September 1, 2011.
Acts 2011, 82nd Leg., R.S., Ch. 532 (H.B. 2495), Sec. 7, eff. September 1, 2011.
Acts 2011, 82nd Leg., R.S., Ch. 1336 (S.B. 1167), Sec. 6, eff. September 1, 2011.
Acts 2011, 82nd Leg., R.S., Ch. 1336 (S.B. 1167), Sec. 7, eff. September 1, 2011.
Acts 2013, 83rd Leg., R.S., Ch. 123 (S.B. 661), Sec. 7, eff. September 1, 2013.

Source: Section 712.003 — Registration Required; Minimum Capital, https://statutes.­capitol.­texas.­gov/Docs/HS/htm/HS.­712.­htm#712.­003 (accessed Jun. 5, 2024).

712.001
Definitions
712.002
Exemptions from Chapter
712.003
Registration Required
712.004
Perpetual Care Trust Fund Required
712.005
Cancellation of Charter for Failure to Begin Operation of Perpetual Care Cemetery
712.007
Notice of Perpetual Care Required
712.008
Rules
712.009
Limitations on Burials
712.020
Conflict with Other Law
712.021
Establishment and Purposes of Fund
712.022
Operation of Perpetual Care Cemetery
712.023
Validity of Contributions
712.024
Amendment of Trust Instrument
712.025
Use of Fund Distributions
712.026
Suit by Plot Owners to Maintain Perpetual Care
712.027
Investment of Fund
712.028
Amount of Fund Deposits from Sales
712.029
Accounting for and Depositing Amounts
712.030
Use of Gift for Special Care of Plot in Perpetual Care Cemetery
712.0032
Certificate of Authority Requirement
712.0033
Certificate of Authority Application
712.0034
Qualifications for Certificate of Authority
712.0035
Issuance of Certificate of Authority
712.0036
Term of Certificate of Authority
712.0037
Renewal of Certificate of Authority
712.0038
Transfer or Assignment Prohibited
712.0039
Transfer of Business Ownership
712.041
Annual Statement of Funds
712.042
Fees
712.043
Additional Fund Report
712.044
Examination of Records
712.045
Revocation or Suspension of Certificate of Authority
712.048
Criminal Penalties
712.061
Offer and Sale of Undeveloped Mausoleum Space
712.062
Deposits to Fund
712.063
Preconstruction Trust
712.064
Construction
712.065
Release of Trust Funds to Corporation
712.066
Contract Disclosures
712.067
Bond in Lieu of Preconstruction Trust
712.068
Reports
712.0255
Judicial Modification or Termination of Fund
712.0351
Definitions
712.0352
Modification of Distribution Method
712.0353
Determination of Fair Market Value
712.0354
Determination of Total Return Percentage
712.0355
Regulatory Limits on Distributions
712.0356
Rules
712.0357
Nature of Total Return Distributions
712.00395
Surrender of Certificate of Authority
712.0435
Investigations
712.0441
Enforcement
712.0442
Pattern of Wilful Disregard
712.0443
Cease and Desist Order
712.0444
Emergency Order
712.0445
Receivership Proceedings

Accessed:
Jun. 5, 2024

§ 712.003’s source at texas​.gov