Ala. Admin. Code r. 395-X-12-.03

Current through Register Vol. 43, No. 1, October 31, 2024

Section 395-X-12-.03 - Preneed Contract Log - Required Content

(1) If the Board's sample log form is not used, any substitute form of preneed contract log shall include the following information categories:

(a) Sequentially ordered contract number.

(b) Name of purchaser.

(c) Name of beneficiary (i.e., the person for whom the contract will cover at the time of need).

(d) Date of contract.

(e) Net amount of contract (contract price after insurance credits and all discounts).

(f) Itemization of purchase price of merchandise and services collected under the contract.

(g) Amount to be trusted (if applicable).

(h) Type of payments (paid-in-full or installments).

(i) Cumulative amount trusted for merchandise and services as of the paid-in-full date.

(j) Face amount of insurance sold (if applicable).

(k) Paid-in-full amount or cumulative installment payments.

(l) Partial delivery (yes/no).

(m) Date delivered.

(n) Date of burial (at need).

(o) Date contract voided or cancelled.

(p) Last payment date.

Ala. Admin. Code r. 395-X-12-.03

Adopted by Alabama Administrative Monthly Volume XLII, Issue No. 06, March 29, 2024, eff. 5/13/2024.

Author: Charles M. Perine

Statutory Authority:Code of Ala. 1975, §§ 34-13-26, 34-13-27, 34-13-170 to -277.