The Arkansas Cemetery Board shall have the authority to:
(1) (A) Conduct periodic, special, or other examination of a cemetery or cemetery company, including without limitation an examination of the physical condition or appearance of the cemetery, the financial condition of the company and any trust funds maintained by the company, and other examinations as the board or Securities Commissioner deems necessary or appropriate in the public interest.
(B) The examination shall be carried out by:
(i) Members or representatives of the board;
(ii) A certified public accountant or registered public accountant as authorized in § 20-17-1007; or
(iii) The State Securities Department;
(2) Issue or amend permits to operate a cemetery in accordance with this subchapter;
(3) Suspend or revoke permits to operate a cemetery when any cemetery fails to comply with this subchapter, rules promulgated pursuant to this subchapter, or any order of the board;
(4) Make rules, regulations, and forms to enforce this subchapter;
(5) Require every cemetery company to observe minimum accounting principles and practices and make and keep such books and records in accordance therewith for such period of time as the board may by rule prescribe;
(6) (A) Subpoena witnesses, books, and records in connection with alleged violations of this subchapter or rules or orders of the board. With the approval of the chair of the board or two (2) board members, the Securities Commissioner may issue subpoenas.
(B) In case of contumacy or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the board, may issue to the person an order requiring him or her to appear before the board or the person designated by the board. Failure to obey the order of the court may be punished by the court as a contempt of court;
(7) Require additional contributions to the permanent maintenance fund of the cemetery where provided for in this subchapter, including, but not limited to, contributions not to exceed three thousand dollars ($3,000) whenever any cemetery company fails to properly care for and maintain or preserve the cemetery;
(8) (A) Apply to the Pulaski County Circuit Court to enjoin any act or practice and to enforce compliance with this subchapter or any rule, regulation, or order pursuant to this subchapter whenever it appears to the board, upon sufficient grounds or evidence satisfactory to the board, that any person has engaged in or is about to engage in any act or practice constituting a violation of any provision of this subchapter or any rule or regulation pursuant to this subchapter.
(B) The court may not require the board to post a bond;
(9) Apply to the circuit court of the county in which the cemetery is located for appointment of a receiver or conservator of the cemetery corporation or its permanent maintenance fund when it appears to the board that a cemetery corporation is insolvent or that the cemetery corporation, its officers, directors, agents, or the trustees of its permanent maintenance fund have violated this subchapter and the rules promulgated under this subchapter or have failed to comply with any board order;
(10) By rule increase the amount of a deposit required by § 20-17-1016 if the board determines that a greater sum is necessary to assure that the permanent maintenance fund will earn sufficient income to provide for the care and maintenance of the cemetery; and
(11) (A) Purchase insolvent, licensed perpetual care cemeteries that have been in court-ordered receivership or conservatorship for at least five (5) years.
(B) If the taking of legal possession of the cemetery requires the payment of consideration, any payment made by the board shall not exceed one thousand dollars ($1,000).
Section: Previous 20-17-1002 20-17-1003 20-17-1004 20-17-1005 20-17-1006 20-17-1007 20-17-1008 20-17-1009 20-17-1010 20-17-1011 20-17-1012 20-17-1013 20-17-1014 20-17-1015 NextLast modified: November 15, 2016