367.940 License as agent required -- Fee -- Service charge -- Annual report to

401 words·~2 min read·/ky/367-940

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Attorney General -- Report not available to general public.

(1)Every person, firm, partnership, association, or corporation shall obtain an agent

license from the Attorney General at least thirty

(30)days prior to offering for sale

any preneed burial contract or accepting any moneys on preneed burial contracts.

An application for license shall contain at least the following:

The full name and address (both residence and place of business) of the

applicant, and every member, officer, and director thereof if the applicant is a firm,

partnership, association, or corporation. Any license issued pursuant to the

application shall be valid only at the address stated in the application for the

applicant or at a new address approved by the Attorney General.

(2)Upon receipt of the application and payment of a license fee of fifty dollars ($50),

the Attorney General shall issue a license unless he determines that the applicant

has made false statements or representations in the application, or is insolvent, or

has conducted, or is about to conduct his business in a fraudulent manner, or is not

duly authorized to transact business in this state.

(3)Any person selling a preneed funeral service contract shall collect from each

purchaser a service charge of five dollars ($5) made payable to the office of the

Attorney General, and all of which fees so collected shall be remitted by the person

collecting same to the Attorney General at least once each month, and such funds

shall be used by the Attorney General in administering KRS 367.932 to 367.974 and

367.991.

(4)Every licensee shall file an annual report on a form provided by the Attorney

General containing information as the Attorney General may require, but at least the

following: an itemized list of all preneed burial contracts sold within the last twelve

(12)months, the moneys collected on said contracts, the total amount deposited in

the preneed funeral trust fund account, and the location and account numbers of said

trust funds. A ten dollar ($10) fee shall be paid to the office of the Attorney General

by each licensee filing an annual report.

(5)Every such report shall be verified by the agent and shall be attested to by the

accountant, auditor, or other person preparing the same.

(6)Such reports shall not be available to the general public and shall be used only for

the lawful purpose of the Attorney General's office.