32-1391.01. Powers and duties of board
A. The board shall adopt rules that:
1. Describe or define deceptive, misleading or professionally negligent practices concerning the offer or sale of prearranged funeral agreements funded by trust and the handling of these funds or accounts.
2. Implement and interpret consumer disclosure requirements of this article to provide adequate information to purchasers of prearranged funerals.
3. Prescribe funeral establishment record keeping requirements concerning prearranged funeral trust sales and trust accounts and the handling and disposition of trust funds.
4. Define terms and develop forms and procedures to implement this article.
B. The board shall enter into an intergovernmental agreement with the department of financial institutions to examine and report on prearranged funeral trust accounts of funeral establishments and to review prearranged funeral trust sales and trust account forms and procedures used by funeral establishments.
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