§36-6126. Designation of agent.
211 words·~1 min read·
/ok/title-36-insurance/36-6126·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Each organization subject to the Funeral Services Licensing Act shall designate an agent or agents, either by names of the individuals or by titles of the offices or positions of the individuals, who shall be responsible for deposits of funds collected under contract for prepaid funeral benefits. The organization shall notify the Insurance Commissioner of the designation at least ten
(10)days prior to becoming subject to this act, and shall also notify the Insurance Commissioner of any changes in the designation at least ten
(10)days before the change occurs.
B. Any person collecting monies under a contract on behalf of an organization shall deposit the monies within ten
(10)days after collection pursuant to paragraph 3 of subsection A of Section 6125 of this title. Any person failing to deposit the monies collected shall be guilty of a misdemeanor and shall be punished by a fine of not less than One Hundred Dollars ($100.00) nor more than Five Hundred Dollars ($500.00) or by imprisonment in the county jail for not less than one
(1)month nor more than six
(6)months, or by both such fine and imprisonment. Added by Laws 1970, c. 332, § 6. Amended by Laws 2009, c. 294, § 7, eff. Nov. 1, 2009.