House Journal: Page 1341: Monday, April 23, 2001
28 item in storage, including the ownership of each item,
29 and provide an aggregate listing with numerical
30 totals.
31 h. File a consent to be audited and inspected by
32 the commissioner.
33 i. Provide reports to the commissioner, annually,
34 by an independent certified public accountant, which
35 shall include a physical count of merchandise held in
36 storage and a review of information, including the
37 seller's revenue and sales records, as necessary to
38 verify the adequacy of the number of items held at the
39 storage facility.
40 j. Satisfy the annual reporting requirements of
41 section 523A.204.
42 2. Lawn crypts may be delivered in lieu of
43 trusting. For this purpose, delivery means
44 installation in a grave owned by the purchaser. The
45 seller shall do all of the following:
46 a. Notify the administrator before the lawn crypts
47 are installed.
48 b. Identify the intended location of the lawn
49 crypts within the cemetery.
50 c. Provide documentation adequately demonstrating
Page 21
1 delivery has occurred. Adequate documentation
2 includes but is not limited to photographs and third-
3 party certifications.
4 3. Cemetery merchandise and funeral merchandise
5 shall not be deemed delivered to the purchaser or
6 warehoused if the merchandise is subject to a lien or
7 security interest by any party other than the seller.
8 4. An establishment is prohibited from requiring
9 delivery as a condition of the sale.
10 5. A seller shall provide services necessary for
11 the installation or burial of outer burial containers
12 sold by the seller. This subsection shall not require
13 the seller to provide for the opening or closing of
14 the interment or entombment space, unless the purchase
15 agreement provides otherwise.
16 Sec. . NEW SECTION. 523A.405 BOND IN LIEU OF
17 TRUST FUND.
18 1. In lieu of trust requirements, a seller may
19 file with the commissioner a surety bond issued by a
20 surety company authorized to do business and doing
21 business within this state. The bond must be
22 conditioned upon the seller's faithful performance of
23 purchase agreements subject to this chapter. The
24 surety's liability extends to each such agreement
25 executed while the bond is in force and until
26 performance or recision of the purchase agreement. To
© 2001 Cornell College and
League of Women Voters of Iowa
Comments about this site or page?
hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Apr 24 13:35:00 CDT 2001
URL: /DOCS/GA/79GA/Session.1/HJournal/01300/01341.html
jhf