(a) The Burial Association Board appointed pursuant to this chapter shall have full and complete authority to:
(1) Grant certificates of authority to burial associations;
(2) Revoke certificates of authority, charters, or other authority granted to burial associations in this state;
(3) Fix the minimum assessments or minimum membership dues for which burial associations may issue certificates for benefits in specified amounts;
(4) Supervise the affairs of all burial associations organized or operating in this state;
(5) Conduct hearings as provided in this chapter and collect, receive, hold, and expend annual license fees as provided in this chapter;
(6) Adopt and enforce such rules and regulations as it may deem necessary and expedient for the proper operation of the board and the carrying out of the objects and purposes of this chapter;
(7) Establish actuarial rates and reserve requirements necessary to ensure the financial integrity of all burial associations; and
(8) Approve requests from burial associations that have excess financial resources, as determined by the board, to adopt a plan to pay death benefits in excess of the face value of a certificate of benefits issued by the burial association to members of the burial association.
(b) The powers and authority set out in subsection (a) of this section shall not be in diminution or limitation of the powers and authority vested in the board by the various sections of this chapter, but the board shall possess all powers and authority, whether set forth in this section or not, to enable it to carry out the intent and purpose of this chapter.
(c) The board shall have power to conduct hearings, subpoena witnesses and records, determine issues between different burial associations and between burial associations and their respective members, and render binding decisions, subject to appeal as provided in this chapter.
Section: Previous 23-78-102 23-78-103 23-78-104 23-78-105 23-78-106 23-78-107 23-78-108 23-78-109 23-78-110 23-78-111 23-78-112 23-78-113 23-78-114 23-78-115 NextLast modified: November 15, 2016