Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-05 - Division of Regulatory Boards
Chapter 0780-05-09 - Cemeteries
Section 0780-05-09-.22 - CRITERIA FOR INDEPENDENT AUDIT
Universal Citation: TN Comp Rules and Regs 0780-05-09-.22
Current through September 24, 2024
(1) The Commissioner may require audited financial statements or other financial reports performed by an independent certified public accountant, approved by the Commissioner, licensed in the State of Tennessee of any cemetery company or its trust funds when there are:
(a)
deficiencies in any of the trust funds; or
(b) any violations of T.C.A. Title 46 or the
Rules of the Departments of Commerce and Insurance, Division of Regulatory
Boards, Burial Services Section, Chapter 0780-5-9 if such violation of statute
or rule relates to trust funds; or
(c) any other reasonable cause to believe
that the trust funds are in danger of being lost or dissipated.
(2) The cost of the audit shall be paid by the cemetery company. The trust fund principal and the income earned from the trust funds shall not be used to pay for audit expenses.
Authority: T.C.A. §§ 46-1-215(d), 46-1-301 and 46-1-306(d)(2).
Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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