(b) A cemetery that receives payment in installments or over time for a lot, plot or part thereof, shall deposit to the permanent maintenance fund the full amount required by N-PCL section 1507 on the entire sale either:

1. (1) in lump sum at the time the contract is signed and any initial payment is received; or
2. (2) by depositing at least 10 percent of any initial payment and each installment payment to the permanent maintenance fund as such payments are received until the full amount required by N-PCL section 1507 on the entire sale has been deposited to the fund.