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-.23 - TRUSTEE VIOLATIONS
Universal Citation: TN Comp Rules and Regs 0780-05-09-.23
Current through September 24, 2024
The Commissioner may assess civil penalties against a trustee for violations including but not limited to:
(1) Improper distributions from the improvement care trust fund or the preneed merchandise and services trust fund;
(2) Late filing of trustee reports;
(3) Filing inaccurate or incomplete trustee reports;
(4) Investing trust funds directly or indirectly:
(a) with any officer, director or employee of
the cemetery company or anyone related by blood, adoption, or marriage to any
individuals included in the above;
(b) with the cemetery company
itself;
(c) in any business entity
of which a controlling interest is held directly or indirectly by any of the
foregoing persons or legal entities;
(d) with any other cemetery company or
funeral establishment;
(e) in
assets, ventures, funds or investments that are high risk or highly
speculative.
Authority: T.C.A. §§ 46-1-301 and 46-1-306(c).
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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