Sections
17 entriesSection 7735Prohibits California-licensed funeral establishments and their agents or employees from soliciting preneed contracts unless all money and securities are held in trust…Section 7735.5Requires every preneed funeral arrangement contract to clearly state whenever benefits are unavailable or limited for any reason, making the disclosure part…Section 7736Defines “trustee” for the article as an authorized California banking institution or trust company, or at least three persons with no more…Section 7737Requires funeral establishments to place preneed money and securities in trust within 30 days and governs releases to establishments, trustors, the Controller,…Section 7737.1Requires a funeral establishment ceasing operations to give specified written notice at least 60 days before closure, whether or not preneed agreements…Section 7737.2Requires the bureau by January 1, 2023, to create and post online the forms required by Section 7737.1. Also requires it by…Section 7737.3Requires each commingled preneed trust fund held by a funeral establishment to undergo an annual independent certified financial audit, with the audit…Section 7737.5Allows a trustee to deposit the trust principal in any financial institution insured by the Federal Deposit Insurance Corporation. Allows that deposit…Section 7737.7Allows a trustee to deposit the trust principal in any credit union insured by the National Credit Union Share Insurance Fund. Allows…Section 7738Prohibits a funeral establishment that is also a licensed cemetery authority from placing preneed-funeral money or securities in a special endowment care…Section 7739Sets punishment for willfully violating any provision of the article at up to six months in county jail, a fine up to…Section 7740Allows the bureau, on its own initiative, to enforce the provisions governing these funeral trust funds and to adopt rules and regulations…Section 7740.5Requires every funeral establishment to pay the bureau the fee fixed by the chapter when filing any report on preneed trust funds…Section 7741Exempts cemetery property, cemetery commodities, cemetery services, and merchandise delivered as soon as it is paid for from the article’s requirements. Applies…Section 7742Exempts from the article any arrangement, contract, or plan for issuing securities that is now or later authorized under a permit of…Section 7745Requires every funeral establishment to give the survivor handling arrangements or responsible party a copy of any preneed agreement in its possession…Section 7746Requires a funeral establishment exempt from annual preneed trust reporting, or covered by a combined report, to file an annual nonreporting declaration…