Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 75 - CEMETERIES AND FUNERAL TRUSTS
Subchapter 5 - REPORTS
Section 16-75-35 - Application for deferral of filing reports

Universal Citation: HI Admin Rules 16-75-35

Current through August, 2024

(a) Consideration may be given by the director to defer the filing of a periodic report; provided the written application for deferral is filed by a licensee who demonstrates proof that one or more of the following conditions exists:

(1) The licensee has sold eighty per cent of the cemetery property available where the property shall not be developed further;

(2) The amount of gross income for the licensee for the year is less than $15,000;

(3) The number of sales by the licensee for the year totaled not more than ten;

(4) The cost for the licensee to do the periodic report would exceed twenty per cent of the income from the trust; or

(5) The audited financial statement of the trust filed in accordance with section 441-24.5, HRS, shows that the assets of the trust exceed ten per cent of the liabilities of the trust.

(b) A written application for deferral in filing a periodic report shall be filed with the director before the expiration of the period described, shall be notarized, and shall set forth in detail:

(1) The report for which application is made for deferral;

(2) Facts which support the licensee's claim to meeting one or more of the conditions specified in subsection (a);

(3) A proposal by the licensee of an alternative report which could be submitted that would provide similar information as would be contained in the report requesting to be deferred; and

(4) The date which the alternative report shall be submitted.

(c) The director shall have the right to approve or disapprove the application for deferral, to approve the alternative report proposed by the licensee, or require that the licensee submit other information to the satisfaction of the director. Any report submitted in lieu of the required periodic report, at a minimum, shall disclose the current financial condition of the trust fund.

(d) The application for deferral of filing a periodic report shall be available for public inspection by any person requesting review of the licensee's reports in accordance with section 441-24.7, HRS.

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