Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-05 - Division of Regulatory Boards
Chapter 0780-05-10 - Pre-Need Funeral Service Contracts
Section 0780-05-10-.09 - DEPOSIT OF FUNDS
Universal Citation: TN Comp Rules and Regs 0780-05-10-.09
Current through September 24, 2024
(1) Contract sellers shall deposit all funds received on account of a pre-need contract as soon as possible after receipt, and in no event later than thirty (30) days after receipt.
(2) All deposits of funds with a trustee shall be in cash only pursuant to a trust instrument; provided, however, that, at any time, a contract seller may change the trustee of its trust funds. In the event of such change of trustee, the requirements of Rule 0780-05-10-.08 shall be complied with.
Authority: T.C.A. § 62-5-405(a) and (b).
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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