Section 32-1391.03 - Department of insurance and financial institutions; powers and duties; prearranged funeral trust accountsA. The department of insurance and financial institutions shall determine all of the following in its examinations of prearranged funeral trust accounts: 1. The names and addresses of purchasers of prearranged funerals and the amount each purchaser paid to the funeral establishment.2. The location and status of all monies received.3. The total amount in trust accounts.4. Whether a funeral establishment is complying with this article and rules adopted pursuant to this article.5. Whether a funeral establishment is following recognized accounting procedures for prearranged funeral trust accounts and handling monies received from prearranged funeral sales.B. The department of insurance and financial institutions shall: 1. Conduct examinations on a random basis or in connection with an investigation pursuant to procedures established by the department of health services.2. Examine the prearranged funeral trust accounts of each funeral establishment at least once within the first twelve months after it begins to sell prearranged funerals and at least once every three years thereafter.3. Include prearranged funeral trust accounts established before January 1, 1985 in its examinations.C. The department of insurance and financial institutions may examine and investigate prearranged funeral trust accounts pursuant to title 6, chapter 1, article 3 and pursuant to the powers of the department of health services concerning prearranged funeral sales and trust accounts.D. If the department of insurance and financial institutions determines after investigating or examining a prearranged funeral trust account that a violation of this article has occurred, it shall send a written report to the department of health services within thirty days after completion of the investigation or examination that includes an identification of the violation and any relevant documents.E. The department of insurance and financial institutions shall assess each funeral establishment at the rate of not more than $520 per day for each examiner employed in the examination of the funeral establishment's prearranged funeral trust accounts pursuant to the requirements of this section.Amended by L. 2023, ch. 194,s. 62, eff. 6/20/2023.Amended by L. 2019, ch. 252,s. 37, eff. 7/1/2020.