House Journal: Page 1333: Monday, April 23, 2001
36 The accountant shall deliver the audit report to the
37 commissioner and to the seller or other persons.
38 3. The commissioner shall not make public the
39 information obtained in the course of an audit, except
40 when a duty under this chapter requires the
41 commissioner to take action against a seller or to
42 cooperate with another enforcement or regulatory
43 agency, or except when the commissioner is called as a
44 witness in a civil or criminal proceeding.
45 SUBCHAPTER 3
46 DISBURSEMENT OF REMAINING BURIAL ACCOUNT FUNDS,
47 BURIAL TRUST FUNDS, AND INSURANCE OR ANNUITY PROCEEDS
48 UNDER THE REQUIREMENTS OF SECTION 249A.5
49 Sec. . NEW SECTION. 523A.301 DEFINITION.
50 As used in sections 523A.302 and 523A.303,
Page 13
1 "director" means the director of human services.
2 Sec. . NEW SECTION. 523A.302 IDENTIFICATION
3 OF MERCHANDISE AND SERVICE PROVIDER.
4 If a burial trust fund identifies, either in the
5 trust fund records or in a related purchase agreement,
6 the seller who will provide the cemetery merchandise,
7 funeral merchandise, funeral services or a combination
8 thereof, the trust fund records or the related
9 purchase agreements must contain a statement signed by
10 an authorized representative of the seller agreeing to
11 furnish the cemetery merchandise, funeral merchandise,
12 funeral services, or a combination thereof upon the
13 death of the beneficiary. The burial trust fund shall
14 not identify a specific seller as payee unless the
15 trust fund records or the related purchase agreements,
16 if any, contain the signature of an authorized
17 representative of the seller and, if the agreement is
18 for funeral services as defined in chapter 156, the
19 name of a funeral director licensed to deliver those
20 services. A person may enter into agreements
21 authorizing the establishment of more than one burial
22 trust fund and agreeing to furnish the applicable
23 merchandise and services.
24 Sec. . NEW SECTION. 523A.303 DISBURSEMENT OF
25 REMAINING FUNDS.
26 1. If funds remain in a nonguaranteed irrevocable
27 burial trust fund or from the proceeds of an insurance
28 policy or annuity made payable or assigned to the
29 seller or a provider after the payment of funeral and
30 burial expenses in accordance with the conditions and
31 terms of the purchase agreement for cemetery
32 merchandise, funeral merchandise, or funeral services,
33 the seller shall comply with all of the following:
34 a. The seller shall provide written notice by mail
© 2001 Cornell College and
League of Women Voters of Iowa
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