House File 2358 - Introduced



                                       HOUSE FILE       
                                       BY  DE BOEF


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to audit requirements for nonperpetual care
  2    cemeteries.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 5982YH 82
  5 av/nh/8

PAG LIN



  1  1    Section 1.  Section 523I.213A, subsection 2, Code
  1  2 Supplement 2007, is amended to read as follows:
  1  3    2.  A cemetery shall reimburse the division for the expense
  1  4 of conducting the examination unless the commissioner waives
  1  5 this requirement or the seller has previously provided to the
  1  6 commissioner a certified copy of an audit conducted by an
  1  7 independent certified public accountant verifying compliance
  1  8 with this chapter for each year in question and the
  1  9 examination conducted by the commissioner does not disclose
  1 10 that the seller has not complied with this chapter for the
  1 11 years in question.  The expense of an examination involving
  1 12 multiple cemeteries or other persons shall be prorated among
  1 13 them upon any reasonable basis as determined by the
  1 14 commissioner.  A nonperpetual care cemetery that is not
  1 15 holding care funds is not subject to the audit or
  1 16 reimbursement requirements of this subsection.
  1 17                           EXPLANATION
  1 18    This bill provides that a nonperpetual care cemetery that
  1 19 is not holding care funds is not subject to the requirement
  1 20 that the cemetery either provide the insurance division with
  1 21 copies of annual audits of the cemetery or reimburse the
  1 22 insurance division for the cost of conducting any examination
  1 23 of the cemetery.
  1 24 LSB 5982YH 82
  1 25 av/nh/8