§35-5B-10. Financial Report and Written Assurance Required
(a) The cemetery company shall report the following information to the Tax Commissioner within four months following the close of the cemetery company's fiscal year: (1) The total amount of principal in the preneed trust account;
§35-5B-11. Inclusion of Property, Goods and Services to Be Delivered Within One Hundred Twenty Days
Nothing in this article prohibits the sale within the contract of preneed property, goods or services to be delivered within one hundred twenty days after the receipt of the initial payment on account of such sale. Contracts may specify separately the total consideration paid or to be paid for preneed property, goods or services not […]
§35-5B-12. Breach of Contract by Seller; Trust to Be Single Purpose Trust
(a) If, after a written request, the seller fails to perform its contractual duties, the purchaser, executor or administrator of the estate, or heirs, or assigns or duly authorized representative of the purchaser shall be entitled to maintain a proper legal or equitable action in any court of competent jurisdiction. No other purchaser need be […]
§35-5B-13. Trustee May Rely on Certifications and Affidavits
The trustee may rely upon all certifications and affidavits which have been made pursuant to the provisions of this article and is not liable to any person for such reasonable reliance.
§35-5B-5. Requirements for Preneed Cemetery Company Contracts
A preneed cemetery company contract shall: (1) Be written in clear understandable language and printed in easy-to-read type, size and style;
§35-5B-2. Information Filing; Fees, Compliance Agent
On or after July 1, 1993, no person, partnership, firm or corporation may engage in the business of operating a cemetery company in this state without having first paid an annual registration fee established by the Tax Commissioner in an amount not to exceed $400, and filing with the Tax Commissioner certain information which shall […]
§35-5B-3. Exemptions
The provisions of this article do not apply to: (1) Sales of property, goods and services subject to the provisions of article fourteen, chapter forty-seven of this code;
§35-5B-4. Deposit in Preneed Trust Required; Who May Serve as Trustee
(a) Each cemetery company shall deposit into an interest bearing trust fund forty percent of the receipts from the sale of property, goods or services purchased pursuant to a preneed cemetery company contract including sales of opening and closing or interment services, when the delivery thereof will be delayed more than one hundred twenty days […]
§35-5B-1. Definitions
The following words and phrases as used in this article, unless a different meaning is clearly indicated by the context, have the following meanings: (1) "Burial vault" means a protective container for a casket which is used to prevent a grave from sinking.