Section 331-16-9 - Notice of Change of Trustee Upon Change of OwnershipWithin thirty (30) days after a change of ownership as defined in Chapter 1, Section 4-A of the board's rules, the new owner, or the funeral home, shall:
1. Notify the payor, settlor or alternate contact person identified in the mortuary trust agreement or preneed contract of the change in ownership and inform such person:A. In the case of a mortuary trust agreement,(1) That the new owner has assumed the role of trustee under the agreement and will provide all funeral goods and services required by the agreement; and(2) That the payor, settlor or other contact person is free at any time to request the resignation of the trustee and designate a different funeral home as successor trustee; orB. In the case of a preneed contract for funeral goods and services, that the new owner will perform the contract and will provide all funeral goods and services required by the contract; and2. Notify the financial institution or credit union where the guaranteed service or credit for service mortuary trust is held that the new owner has been automatically substituted as payee pursuant to Section 8 of this chapter and has assumed the role of trustee under the agreement.02-331 C.M.R. ch. 16, § 9