Section R4-12-523. Surety bond requirements

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A.      A funeral establishment applying for a prearranged funeral sales endorsement shall provide the Board with the number of prearranged funeral agreements sold during the immediately preceding calendar year and provide the applicable surety bond as follows:

1.        $15,000 if the establishment sold fewer than 100 prear- ranged funeral agreements during the immediately pre- ceding calendar year;

2.        $30,000 if the establishment sold 100 or more, but fewer than 250 prearranged funeral agreements during the immediately preceding calendar year; or

3.        $50,000 if the establishment sold 250 or more prear- ranged funeral agreements during the immediately pre- ceding calendar year.

The amount of the surety bond shall be increased by $5,000 for each salesperson currently registered by the Board for the establishment.

B.       The corporate surety bond provided to the Board shall contain the language specified by Appendix D (following R4-12-565).

Historical Note

Adopted effective January 1, 1985 (Supp. 85-1).

                    
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