58-9-701. Preneed contract requirements. (1) (a) A preneed funeral arrangement sold in Utah shall be evidenced by a written contract. (b) The funeral service establishment shall maintain a copy of the contract until five years after all of the establishment’s obligations under the contract have been executed. (2) The form for a written contract of […]
58-9-702. Payments to be held in trust — Trustee qualifications. (1) All money representing payments for the purchase of a preneed funeral arrangement shall be deposited by the provider or sales agent receiving the payment: (a) within 10 business days after the day on which the provider or sales agent receives the payment in the […]
58-9-703. Trust agreement. (1) Each trust established by a funeral service establishment shall be administered in accordance with a trust agreement conforming with: (a) the requirements of this chapter; (b) rules adopted with respect to this chapter; (c) the provisions of Title 75, Chapter 7, Utah Uniform Trust Code; and (d) all other state and […]
58-9-704. Interest earned on trust funds. Interest earned on trust funds shall be available for expenditure according to the following priority: (1) to pay the reasonable trustee expenses of administering the trust within a maximum amount established by rule; (2) to pay within a maximum amount established by rule under Section 58-9-504 the reasonable provider […]
58-9-705. Distribution of funds. (1) Interest earned on trust funds shall be available to the provider according to the priority set forth in Section 58-9-704. (2) The amount of payments made into the corpus of the trust and any other amount which has been paid into the corpus of the trust shall be paid to […]
58-9-706. Trust funds and insurance reports. (1) (a) Each funeral service establishment shall maintain an annual report of preneed trust funds and insurance. (b) The report shall contain: (i) the name of the trustees with which the funeral service establishment has trust funds on deposit; and (ii) the amount remaining on deposit in the trust […]
58-9-707. Records of trustee — Contents. (1) The trustee shall keep an orderly record of all agreements. (2) The record shall contain: (a) the name and address of the person making a payment; (b) the date and the amount of each payment made; (c) the date and amount of each withdrawal and to whom paid; […]
58-9-708. Audits. (1) (a) The division may at any time: (i) audit records of the provider; and (ii) inspect records of the provider. (b) The provider or trustee shall make available to the division for examination, inspection, or auditing all records pertaining to the accounts relating to: (i) any contract sold under this chapter; and […]
