Section 328.219 – Notice of Purchase or Assignment of Business Operations or Prepaid Contracts.
328.219 Notice of purchase or assignment of business operations or prepaid contracts. Sec. 9. The purchaser or assignee of a registrant’s business operations shall notify the department and the contract buyers of the purchase or assignment of the prepaid contracts. History: 1986, Act 255, Eff. July 1, 1987 ;– Am. 2004, Act 21, Eff. Jan. […]
Section 328.220 – Nonguaranteed or Guaranteed Price Contracts; Execution.
328.220 Nonguaranteed or guaranteed price contracts; execution. Sec. 10. All prepaid contracts provided for under this act shall be either a nonguaranteed price contract or a guaranteed price contract and shall be made and executed pursuant only to this act. History: 1986, Act 255, Eff. July 1, 1987 ;– Am. 2004, Act 21, Eff. Jan. […]
Section 328.221 – Guaranteed Price Contract; Requirements.
328.221 Guaranteed price contract; requirements. Sec. 11. (1) A guaranteed price contract shall designate a provider who has agreed to furnish the merchandise or funeral or cemetery services specified in the contract upon the death of the contract beneficiary. If the provider designated is not the prepaid contract seller of the contract, the provider shall […]
Section 328.222 – Funds to Be Held in Escrow by Escrow Agent; Additional Commission Not Subject to Depository Requirements; Commission if Contract Price Paid in Installments; Refund; Qualifications and Selection of Escrow Agent; Authorized Investments; Fees and Expenses; Commingling; Separate Accounting of Principal and Income; Notice to Contract Buyer; Disbursement of Funds; Nonprofit Corporation or Association as Escrow Agent; Furnishing Statement to Contract Buyer.
328.222 Funds to be held in escrow by escrow agent; additional commission not subject to depository requirements; commission if contract price paid in installments; refund; qualifications and selection of escrow agent; authorized investments; fees and expenses; commingling; separate accounting of principal and income; notice to contract buyer; disbursement of funds; nonprofit corporation or association as […]
Section 328.223 – Cancellation of Prepaid Contract by Contract Buyer; Notice; Disbursement of Principal and Income; Cancellation of Contract by Contract Seller or Provider; Failure to Use Escrow Account to Make Funeral Arrangements; Assignment or Transfer of Obligations.
328.223 Cancellation of prepaid contract by contract buyer; notice; disbursement of principal and income; cancellation of contract by contract seller or provider; failure to use escrow account to make funeral arrangements; assignment or transfer of obligations. Sec. 13. (1) A contract buyer may cancel a prepaid contract at any time before the death of the […]
Section 328.224 – Liability for Principal and Income; Investment of Funds; Changing Escrow Agent or Depository.
328.224 Liability for principal and income; investment of funds; changing escrow agent or depository. Sec. 14. (1) Payments of principal and income by a depository or an escrow agent made in good faith pursuant to the terms of this act shall relieve that depository or escrow agent of any further liability for that principal and […]
Section 328.225 – Prices or Quotations of Prices; Requirements; Exception; Manipulation of Prices Prohibited; Provision for Revocation of Contract; Refund; Disclosure of Right to Cancel Contract and Amount of Refund; Disclosure of Commissions; Services Requiring Mortuary Science License or Funeral Establishment License; Construction of Act; Designation of New Contract Beneficiary; Notice; Clear Indication of Nonguaranteed Price Contract, Actual Costs, and Obligations.
328.225 Prices or quotations of prices; requirements; exception; manipulation of prices prohibited; provision for revocation of contract; refund; disclosure of right to cancel contract and amount of refund; disclosure of commissions; services requiring mortuary science license or funeral establishment license; construction of act; designation of new contract beneficiary; notice; clear indication of nonguaranteed price contract, […]
Section 328.226 – Prepaid Funeral Contract Not in Writing as Voidable; Agreement as to Rate of Interest; Interest Added or Deducted in Advance; Computation of Interest; Financing of Contract.
328.226 Prepaid funeral contract not in writing as voidable; agreement as to rate of interest; interest added or deducted in advance; computation of interest; financing of contract. Sec. 16. (1) A prepaid contract that is not in writing is voidable by any party to the prepaid contract. (2) A prepaid contract made in violation of […]
Section 328.227 – Rules Generally.
328.227 Rules generally. Sec. 17. The department may promulgate rules pursuant to the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws, to implement this act. History: 1986, Act 255, Eff. July, 1 1987 Compiler’s Notes: For transfer of powers […]
Section 328.228 – Prohibited Conduct; Rules; Administrative Action.
328.228 Prohibited conduct; rules; administrative action. Sec. 18. (1) Notwithstanding any other law to the contrary, a person selling or offering to sell merchandise or funeral or cemetery services, whether a registrant or not, shall not do any of the following: (a) Solicit a specific person for the purpose of providing merchandise or funeral or […]