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23-61-1109. Cemeteries and cemetery companies.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-61-1109. Cemeteries and cemetery companies.
(a) The State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services may:
(1)(A) Conduct periodic, special, or other examinations of a cemetery or cemetery company, including without limitation an examination of the physical condition or appearance of the cemetery, the financial condition of the cemetery company and any trust funds maintained by the cemetery company, and other examinations that the board or Insurance Commissioner deems necessary or appropriate in the public interest.
(B) An examination under subdivision (a)(1)(A) of this section shall be carried out by:
(i) A member or representative of the board;
(ii) A certified public accountant or registered public accountant as authorized under § 20-17-1007; or
(iii) The State Insurance Department;
(2) Issue or amend permits to operate a cemetery under this subchapter;
(3) Suspend or revoke permits to operate a cemetery when a cemetery fails to comply with this subchapter, rules promulgated under this subchapter, or any order of the board;
(4) Make rules and forms to enforce this subchapter;
(5) Require cemetery companies to observe minimum accounting principles and practices and make and keep the books and records for a period of time as the board may prescribe by rule;
(6) Require additional contributions to the permanent maintenance fund of the cemetery under this subchapter, including without limitation contributions not to exceed three thousand dollars ($3,000) whenever a cemetery company fails to properly care for and maintain or preserve the cemetery;
(7) Apply to Pulaski County Circuit Court or the circuit court of the county in which the cemetery is located for appointment of a receiver or conservator of the cemetery com
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-61-1109
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-61-1109
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f03b1b4243130b0b3c3808332f5a25a28ad2ee55132f6a657e1a1a5ac4aa868d
Source location: content.xml paragraph 29855
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23-61-1109. Cemeteries and cemetery companies.
(a) The State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services may:
(1)(A) Conduct periodic, special, or other examinations of a cemetery or cemetery company, including without limitation an examination of the physical condition or appearance of the cemetery, the financial condition of the cemetery company and any trust funds maintained by the cemetery company, and other examinations that the board or Insurance Commissioner deems necessary or appropriate in the public interest.
(B) An examination under subdivision (a)(1)(A) of this section shall be carried out by:
(i) A member or representative of the board;
(ii) A certified public accountant or registered public accountant as authorized under § 20-17-1007; or
(iii) The State Insurance Department;
(2) Issue or amend permits to operate a cemetery under this subchapter;
(3) Suspend or revoke permits to operate a cemetery when a cemetery fails to comply with this subchapter, rules promulgated under this subchapter, or any order of the board;
(4) Make rules and forms to enforce this subchapter;
(5) Require cemetery companies to observe minimum accounting principles and practices and make and keep the books and records for a period of time as the board may prescribe by rule;
(6) Require additional contributions to the permanent maintenance fund of the cemetery under this subchapter, including without limitation contributions not to exceed three thousand dollars ($3,000) whenever a cemetery company fails to properly care for and maintain or preserve the cemetery;
(7) Apply to Pulaski County Circuit Court or the circuit court of the county in which the cemetery is located for appointment of a receiver or conservator of the cemetery company or its permanent maintenance fund when it appears to the board that a cemetery company is insolvent or that the cemetery company, its officers, directors, agents, or the trustees of its permanent maintenance fund, have violated this subchapter and the rules promulgated under this subchapter or have failed to comply with any board order;
(8) Increase by rule the amount of a deposit required under § 20-17-1016 if the board determines that a greater sum is necessary to assure that the permanent maintenance fund will earn sufficient income to provide for the care and maintenance of the cemetery; and
(9)(A) Purchase insolvent, licensed perpetual care cemeteries that have been in court-ordered receivership or conservatorship for at least five (5) years.
(B) If the taking of legal possession of the cemetery under subdivision (a)(9)(A) of this section requires the payment of consideration, any payment made by the board shall not exceed one thousand dollars ($1,000).
(b) A violation of this section is a Class A misdemeanor.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
20-17-1007. Examination of cemetery.
(a)(1) An examined cemetery company shall pay the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services for the examination:
(A) One hundred dollars ($100) per day for each examiner who conducts the examination; and
(B) The amount necessary to reimburse the travel, meal, and lodging expenses of each examiner.
(2) An examination shall be conducted by an employee of the State Insurance Department or board member.
(b) In lieu of any financial examination that the board shall be authorized to make, the board may accept the audit of an independent certified public accountant, provided that the Insurance Commissioner has notified the cemetery company that the audit would be accepted and that the cemetery company has notified the commissioner in writing that an audit would be prepared.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-17-1007
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 20-17-1007. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
20-17-1016. Permanent maintenance fund — Required deposits.
(a) Unless a greater amount is established by rule of the State Board of Embalmers, Funeral Directors, Cemeteries, and Burial Services, a cemetery company shall deposit into its permanent maintenance fund a sum not less than:
(1) Twenty percent (20%) of the gross proceeds from the sale of a lot or grave space in its cemetery; and
(2) Five percent (5%) of the gross proceeds from the sale of a mausoleum crypt, lawn crypt, niche, or other similar entombment in its cemetery.
(b)(1) The deposit shall be made by the cemetery company not later than forty-five (45) days after the final payment has been made.
(2) However, any cemetery company making sales on installment sales contracts shall deposit the required percentage in accordance with the following:
(A) If the cemetery company receives installment payments directly and if adequate records are maintained as to the full amount of sale, the receipts received, and the balance due, then the cemetery company shall deposit the required percentage of gross proceeds of sale into the permanent maintenance fund not later than the forty-fifth day after the final payment is made, or the cemetery company may deposit the required percentage of each amount received not later than the forty-fifth day after each installment payment by the purchaser; and
(B)(i) If the cemetery company elects to discount the installment sales contracts at a bank or other financial institution and receive a discounted value immediately in cash, the required percentage of the gross sales price shall be placed in a separate restricted escrow account at the time that the contract is discounted.
(ii) The amount so placed in escrow shall not be withdrawn until the lot purchaser defaults on
Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-17-1016
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 20-17-1016. This identifies an authority to review, not proof of applicability.