12-1120. Pre-need seller; failure to perform obligations; director; powers.
88 words·~1 min read·
/ne/chapter-12/12-1120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The director may collect the proceeds of any letter of credit, surety bond, or trust funds held pursuant to subdivision (2)(a) of section 12-1113 upon the failure of the pre-need seller to perform the obligations secured thereby. Thereafter, in the director's discretion, he or she may use such proceeds to secure completion of the mausoleum, columbarium, or lawn crypt or take any actions necessary to reimburse all pre-need purchasers of a crypt or niche therein to the extent of money paid or consideration given by the pre-need purchasers.