To the extent that any endowment care trust existing on May 1, 2002, includes investments or assets, the retention of which the trustee in the free exercise of its discretion deems not in the best interest of the trust estate, the trustee shall dispose of the investments or assets as soon as practicable without undue sacrifice to the trust estate, and in any event within two years after May 1, 2002.
Ala. Code § 34-13-273
Disposal of Assets or Investments.
Known as the Alabama Preneed Funeral and Cemetery Act
The act spans §§ 34-13-170 to 34-13-277 (43 sections).
(Act 2002-74, p. 221, §1; §27-17A-53; Act 2023-94, §9.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.