The board of directors of any incorporated cemetery company may by bylaw establish a trusteeship for holding and administering all funds paid to such cemetery company for the perpetual care of any lot or lots in the cemetery conducted by the company, and such trusteeship, once established, shall only be revoked, annulled or modified by and with the consent of the circuit court of the county or the corporation court of the city within whose jurisdiction the cemetery is situated.
Code 1919, § 59; 1918, p. 103; 1920, p. 10.
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