North Carolina Funeral Law Practice Exam

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What percentage of total assessments and investment income can be used to cover operating expenses by burial associations?

  1. 20%

  2. 25%

  3. 30%

  4. 50%

The correct answer is: 30%

Burial associations in North Carolina are regulated regarding how much of their total assessments and investment income can be allocated to cover operating expenses. Specifically, the law allows burial associations to use up to 30% of their total assessments and any investment income for operating expenses. This percentage is established to ensure that a significant portion of the funds collected is preserved for their primary purpose, which typically is to provide burial benefits to members. Therefore, using 30% helps maintain a balance between operational costs and the financial health of the association, safeguarding the benefits provided to the members.

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