Statutes, codes, and regulations
Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-3-005 - REQUIRED FUNERAL AND CEMETARY TRANSACTION RECORDS
Section 482-3-005-.03 - Preneed Contract Log; Cemetery Property Sales Log - Required

Ala. Admin. Code r. 482-3-005-.03

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Current through Register Vol. 43, No. 1, October 31, 2024
Section 482-3-005-.03 - Preneed Contract Log; Cemetery Property Sales Log - Required
(1) Each certificate holder selling funeral preneed contracts shall have and maintain a preneed contract log that includes the information set forth in Rule 482-3-005-.04 for each preneed contract sold.
(2) Each certificate holder selling cemetery preneed contracts shall have and maintain a cemetery property sales log that includes the information set forth in Rule 482-3-005-.05 for each preneed contract sold.
(3) Each certificate holder offering both funeral and cemetery preneed contracts shall have and maintain a preneed contract log and a cemetery property sales log.
(4) Each log must be formatted so that:
(a) The company name is on each page of the log.
(b) Each page of the log is sequentially numbered at the bottom.
(c) The log is typed or printed legibly.
(d) If the log is not being created using a computer spreadsheet, all contract items shall be completed using black or blue ink, except the columns for the current payment status, amount in trust, and cumulative amount in trust, may be written in pencil until the contract is paid in full.
(e) The log can be copied and scanned.
(5) Use of the Department's sample log forms published on the Department's website will be deemed compliance with this Rule. The certificate holder may create its own form of a log as long as all information categories in Rule 482-3-005-.04 or Rule 482-3-005-.05, as applicable, appear and the log is formatted as provided in paragraph (4). The certificate holder shall perform such staff training and engage in such oversight as may be necessary to reasonably assure that the log is maintained accurately and updated.
(6) Each log must be readily accessible and updated to current status on a not less than quarterly basis.

Ala. Admin. Code r. 482-3-005-.03

Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 02, November 26, 2014, eff. 1/1/2015.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-17A-1 to -57 (2014).