1. A. The Cemetery Merchandise Trust Act, Section 302 et seq. of this title, shall be administered by the State Banking Commissioner. The Commissioner is authorized to promulgate reasonable rules concerning the keeping and inspection of records, the filing of contracts and reports, investments of and handling of the trust funds, and all other matters incidental to the orderly administration of this law. Any reference to the Oklahoma Banking Board in rules promulgated pursuant to the Cemetery Merchandise Trust Act shall mean the State Banking Commissioner. The rules promulgated by the Oklahoma Banking Board prior to the effective date of this act shall continue in effect until such rules are amended or repealed by rule of the Commissioner promulgated pursuant to the provisions of Article I of the Administrative Procedures Act. All prepaid cemetery merchandise contracts must be in writing, and no such contract form shall be used without first being submitted to the Commissioner.
2. B. An organization aggrieved by an action or order of the Commissioner may appeal the action or order to the State Banking Board which may then affirm, modify or reverse the action or order of the Commissioner as provided by the Administrative Procedures Act.

Laws 1989, SB 155, c. 297, § 20, eff. November 1, 1989; Amended by Laws 1993, SB 275, c. 218, § 8, eff. September 1, 1993; Amended by Laws 1995, HB 1951, c. 82, § 6, eff. November 1, 1995.