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OK SB997
Bill
Status
2/6/2012
Primary Sponsor
Roger Ballenger
Click for details
AI Summary
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Funeral service providers operating prepaid funeral trusts that are found in compliance with state requirements (36 O.S. Sections 6121-6136.18) will not be required to pay for their annual financial examinations
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Funeral service providers found to have violated prepaid funeral trust requirements must pay for their examination costs plus other penalties under Section 6130
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The Insurance Department must use fines collected from non-compliant providers to fund examinations of compliant providers
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Annual financial examinations of prepaid funeral trusts must be prepared by a licensed or certified public accountant and submitted by March 15 each year
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Effective date: November 1, 2012
Legislative Description
Insurance; modifying payment requirements for financial examinations of prepaid funeral trusts and accounts. Effective date.
Insurance
Last Action
Pending authorship Representative(s) Sanders
2/9/2012