PURPOSE: Under Chapter 436, RSMo, the State Board of Embalmers and Funeral Directors is directed to accept notification of FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 2120—State Board of Embalmers and Funeral Directors

intent to sell assets or cease doing business from persons registered as preneed sellers or preneed providers, or both. Under section 333.111.1., RSMo, the State Board of Embalmers and Funeral Directors is directed to promulgate rules. . . “for the transaction of its business. . .” This rule complies with the statutory directive that the board promulgate rules for the transaction of its business in accepting notifications of intent to sell assets or cease doing business from registered preneed sellers or providers, or both.

1. (1) Whenever used in this rule, the word person means any individual, partnership, corporation, cooperative, association or other entity.
2. (2) Notification of intent to sell assets or cease doing business must be made on the forms provided by the board.
3. (3) As part of the notification, each registered seller must inform the board of the actions it has taken or will take to ensure that the trust assets of the seller will be set aside and used to serve outstanding preneed contracts sold by the seller and each registered provider must inform the board of the actions it has taken or will take to ensure that the provider’s obligations under preneed contracts will be satisfied.
4. (4) In its discretion, the board may take reasonable and necessary actions to ensure that the provider’s obligations under preneed contracts will be satisfied or that the trust assets of the seller will be set aside and used to service outstanding preneed contracts sold by the seller.
5. (5) Failure of the board to take action regarding any sale or termination of business within thirty (30) days of receipt of notification for providers and within sixty (60) days of receipt of notification for sellers will constitute a waiver of the board’s authority under Chapter 436, RSMo.
6. (6) Forms for submitting notifications of intent to sell assets or cease doing business will be provided upon request.

AUTHORITY: section 333.111.1, RSMo 1986.* This rule originally filed as 4 CSR 120-3.030. Original rule filed Jan. 7, 1983, effective June 11, 1983. Moved to 20 CSR 2120-3.030, effective Aug. 28, 2006. *Original authority: 333.111.1, RSMo 1965, amended 1981. 4 CODE OF STATE REGULATIONS (9/30/06)* ROBIN CARNAHAN FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION Division 2120—State Board of Embalmers and Funeral Directors