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§ 1261. Exempt Preneed Arrangements.

16 CA ADC § 1261Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 16. Professional and Vocational Regulations
Division 12. Cemetery and Funeral Bureau (Refs & Annos)
Article 8. Preneed Funds and Disclosure of Preneed Agreements
16 CCR § 1261
§ 1261. Exempt Preneed Arrangements.
Currentness
A pre-need arrangement, contract or plan subject to the provisions of Business and Professions Code Division 3, Chapter 12, Article 9 (the Short Act) does not include an arrangement wherein:
(a) The funeral establishment's client directly deposits his or her own money in a bank or savings institution trust account in the name of the client as trustee for the funeral establishment, provided that, until death, the client retains the exclusive power to hold, manage, pledge, and invest the funds in the account and may revoke the tentative trust and withdraw the funds, in whole or in part, at any time; and
(b) There is no delivery whatsoever to the funeral establishment of money to pay for the services or merchandise, until such services or merchandise have been provided.
Delivery of money to a funeral establishment within the meaning of this rule and Business and Professions Code Section 7735 includes direct or indirect delivery to the funeral establishment, or to any of the funeral establishment's agents or employees.

Credits

Note: Authority cited: Sections 7606 and 7740, Business and Professions Code. Reference: Sections 7735 and 7740, Business and Professions Code.
History
1. New Note filed 6-17-77; effective thirtieth day thereafter (Register 77, No. 25). For prior history, see Register 77, No. 9.
2. Amendment filed 7-3-86; effective thirtieth day thereafter (Register 86, No. 27).
3. Change without regulatory effect amending article heading, section heading and section filed 4-15-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 16).
4. Amendment of article heading filed 5-13-2004; operative 6-12-2004 (Register 2004, No. 20).
This database is current through 4/19/24 Register 2024, No. 16.
Cal. Admin. Code tit. 16, § 1261, 16 CA ADC § 1261
End of Document