Mo. Code Regs. tit. 20 § 2120-3.505

Current through Register Vol. 49, No. 23, December 2, 2024

Section 20 CSR 2120-3.505 - Types of Financing; Other Financing Still Preneed

PURPOSE: This rule identifies the acceptable funding mechanisms for preneed contracts.

(1) Preneed contracts shall only be funded by :

(A) A preneed trust as defined by section 436.405.1(8), RSMo;

(B) An insurance policy or single premium annuity contract as defined by section 436.405.1(3), RSMo; or

(C) A joint account as defined by section 436.405.1(4), RSMo.

(2) Preneed contracts funded by any other mechanism shall be non-compliant with the requirements of sections 436.400 to 436.520, RSMo. All non-compliant preneed contracts shall still be subject to regulation by the board under sections 436.400 to 436.520, RSMo.

20 CSR 2120-3.505

AUTHORITY: sections 333.340, 436.405, and 436.520, RSMo Supp. 2009.* Emergency rule filed Dec. 4, 2009, effective Dec. 14, 2009, expired June 11, 2010. Original rule filed Dec. 4, 2009, effective June 30, 2010 .

*Original authority: 333.340, RSMo 2009; 436.405, RSMo 2009; and 436.520, RSMo 2009.