After June 14, 1939, a cemetery to which IC 23-14-48 applies shall invest and reinvest:

1. (1) all money in the perpetual care fund of the cemetery; and

2. (2) all other assets held in trust by the cemetery;

   in property or securities that qualify for trust investments under IC 30-4-3-3 (c).

As added by P.L.52-1997, SEC.25.