Ala. Admin. Code r. 395-X-9-.03

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

Section 395-X-9-.03 - Preneed Contract - Filing And Approval

(1) A preneed contract must be on a written or preprinted contract form, approved by the Board, that is completely filled in and signed by the purchaser and the preneed seller.

(2) Preneed contract forms, including forms based on templates supplied by the Board, shall be filed for approval with the Board, in a format and manner prescribed by the Board, and the forms approved before use. A filed contract form may be used beginning thirty (30) days after its filing date unless the Board has disapproved its use during the 30-day period. Any revisions to a preneed contract form must be filed with and approved by the Board prior to use. Revisions required as a result of this Chapter shall be filed within sixty (60) days of the effective date of this Chapter.

(3) In order to be approved by the Board, a preneed contract form must adhere to the minimum requirements set forth in Rules 395-X-9-.04 and 395-X-9-.05, as applicable.

(4) It shall be the responsibility of the Certificate of Authority holder to maintain proof of approval of any preneed contract form(s) used by the Certificate of Authority holder.

(5) Nothing in this section shall prohibit a trust or insurance company from filing a contract for approval on behalf of the certificate holder.

Ala. Admin. Code r. 395-X-9-.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.