Wyoming Administrative Code
Agency 044 - Insurance Dept
Sub-Agency 0002 - General Agency, Board or Commission Rules
Chapter 2 - FUNERAL CONTRACT TRUST FUNDS
Section 2-8 - Contents of Contracts - Procedure

(a) At the time the contract is entered into the contract seller shall furnish each contract buyer with a duplicate original of the contract and, if said contract requires services to be performed at a future time by a person other than the contract seller, then the contract seller shall furnish the contract buyer with a copy of the instrument between the contract seller and such person obligated to perform the services agreed upon to be furnished and performed at the price provided in the contract.

(b) The contract seller shall file with the commissioner a master copy of each form of contract offered or sold by such contract seller and a master copy of any form instrument between the contract seller and a person licensed by the state whereby said person agreed to actually perform any services under any contracts offered or sold by the contract seller. In addition, the contract seller shall furnish the commissioner a written instrument on each contract sold, showing the names of all parties, the goods or services sold, the consideration therefor, and the terms of payment.

(c) If any contract contains an agreement for the performer to furnish services at a future time, the contract shall state the name and address of the principal office of the person licensed by the state who will perform such services. If no request for performance of the contract shall have been received by the contract seller from the next of kin or legal representative of the decedent within seventy-two hours after the death of the decedent, then the contract seller shall cause such services to be performed and such goods supplied in the manner provided in the contract, and upon the performance of such services, liability under such contract shall be conclusively deemed terminated.

Any checking account, savings account, certificate of deposit or other evidence of investment for credit jointly held in the names of a person (as defined in these regulations) and a licensed embalmer, undertaker, funeral director or other person regularly engaged in selling or furnishing funeral supplies or services (which include any embalming, caskets, cemetery lots, plots; niches, crypts, vaults, markers; cremations or any other thing incident to the ultimate disposal of dead bodies) shall be conclusively presumed to have with it an underlying contract which specifically provides for said services, and said account etc., shall be construed to be a part of a pre-need contract (as defined herein) and subject to these regulations.

No contract, rider or addendum thereto, shall be offered for sale in Wyoming if such shall fail to provide for the furnishing of specific goods or services or both for a specified amount and no contract, rider or addendum shall contain a clause which provides for the diminution of the value of said goods or services or both or for an increase in the cost of same, contingent upon the happening of a future event or the existence in the future of any condition, economic or otherwise.

(d) In the event of default or termination or cancellation by the contract seller for any reason whatsoever, said contract seller shall forthwith tender to the contract buyer all funds deposited on behalf of the contract buyer in the depository maintained by the contract seller. Said contract seller shall at the same time pay to the buyer all interest which has accrued on said funds as determined by the records of the depository and which otherwise is or was to be the property of the seller. (The fact that these regulations otherwise allow the contract seller to retain the interest shall not abrogate this requirement).

In the event of default or termination or cancellation by the contract buyer, other than by death, the contract seller shall forthwith tender to the contract buyer 80% of all principal funds which are on deposit as aforesaid. Accrued interest may be retained by the contract seller.

(e) All contracts shall contain the words "not insurance" in bold face type on the face of each contract.

(f) No contract shall restrict any contract buyer who is receiving old age pension benefits from making his contract irrevocable in accordance with the rules and regulations of the State Department of Public Assistance and Social Services.