(a) Preneed contract forms and related forms shall be filed with and approved by the board. (b) Specific disclosure regarding whether, consistent with the requirements of this chapter, the certificate holder is placing certain preneed funds received with the contract in trust, in an annuity, or in insurance, is required in the preneed contract. (c) Preneed contracts that have been submitted to the board shall be deemed to have been approved by the board in the event that the board fails to notify the
certificate holder that approval has been denied within 30 days following submission to the board.
History: (Act 2002-74, p. 221, §1; Act 2014-216, p. 653, §3; §27-17A-12; Act 2023- 94, §5.)