Mo. Code Regs. Ann. tit. 20, § 2120-3.200
Seller Obligations
Effective Jun 30, 2010sections 333.340, 436.415, and 436.520, RSMo Supp. 2009.* Emergency rule filed Dec. 4, 2009, effective Dec. 14, 2009, expired June 11, 2010. Original rule filed Dec. 4, 2009, effective June 30, 2010. *Original authority: 333.340, RSMo 2009; 436.415, RSMo 2009; and 436.520, RSMo 2009State Board of Embalmers and Funeral Directors
PURPOSE: This rule clarifies the duties of the seller of a preneed contract.
(1) Except as otherwise provided in sections 436.400 to 436.520, RSMo, and any rules validly promulgated pursuant to those sections—
- (A) The seller shall be obligated to collect and properly deposit and disburse all payments made by, or on behalf of, a purchaser of a preneed contract;
- (B) A purchaser may make payments on any preneed contract by making the payment directly to the trustee, the insurance company, or the financial institution where the joint account is held, as applicable, in lieu of paying the seller; and FINANCIAL INSTITUTIONS AND PROFESSIONAL REGISTRATION
- (C) All sellers shall designate an individual to serve as manager in charge of the seller’s business. This individual shall either reside or work within the state of Missouri. The seller shall designate the manager in charge in its initial application for licensure. If the manager in charge changes, the seller shall provide written notice to the board within thirty (30) days of the change.
AUTHORITY: sections 333.340, 436.415, and 436.520, RSMo Supp. 2009.* Emergency rule filed Dec. 4, 2009, effective Dec. 14, 2009, expired June 11, 2010. Original rule filed Dec. 4, 2009, effective June 30, 2010. *Original authority: 333.340, RSMo 2009; 436.415, RSMo 2009; and 436.520, RSMo 2009.