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Florida Administrative Code (Last Updated: October 28, 2024) |
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69. Department of Financial Services |
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69K. Division of Funeral, Cemetery, and Consumer Services |
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69K-7. Trusts And Trust Funds |
69K-7.010. Reporting Requirements for Preneed Licensees Utilizing a Surety Bond in Lieu of Maintaining a Trust Fund
1(1) A preneed licensee which chooses to utilize a surety bond in lieu of maintaining a trust must file a report of outstanding liabilities of merchandise and services to be covered under the surety bond to accompany the application as provided for in rule 4569K-7.012, 46F.A.C. This report shall be used to determine the amount of the surety bond and shall contain the following information in sequential order:
69(a) An itemized listing in numerical order of all contracts sold during or subsequent to 1972 which have an existing outstanding liability for undelivered merchandise or services;
96(b) The purchaser’s name;
100(c) A brief description of the merchandise for which a liability exists;
112(d) The total liability to the preneed licensee for all undelivered merchandise or services which were sold during or subsequent to 1972.
134(2) The report shall be filed in the following manner:
144(a) The report must be signed by the preneed licensee’s chief financial officer;
157(b) The report shall be compiled annually and must be submitted to the Board within one hundred five (105) days from the end of the preneed licensee’s fiscal year.
186(3) The preneed licensee’s obligation to file this report with the Board shall end upon the preneed licensee ceasing the use of a surety bond.
211Rulemaking Authority 213497.103, 214497.462 FS. 216Law Implemented 218497.462 FS. 220History–New 3-20-91, Formerly 3D-30.038, Amended 10-25-95, 5-27-98, Formerly 3F-7.010, Amended 9-9-18.
