The next section of Missouri’s seller records rule proposal seeks the following documents:
D. For all fulfilled preneed contracts:
(1) Records showing seller’s performance for fulfilled preneed contracts including:
(a) Written certificate(s) of performance for each preneed contract fulfilled;
(b) Requests to the financial institution and/or insurance company for payment;
(c) Evidence of the date the seller received the funds from the financial institution or insurance company;
(d) The account from which the funds were paid to the seller; and
(e) All other records showing the seller’s performance of the preneed contract.
Missouri funeral directors have questioned the need to maintain records reflecting the performance of preneed contracts. In the prior post titled “Drilling Deeper”, we discussed that the State Board may eventually seek preneed records that would help auditors find any ‘hidden drawers’. That euphemism is used for the location where the unscrupulous funeral director hides his unfunded preneed contracts. The ‘fulfilled preneed contract records’ sought by rule proposal may be intended to discourage the hidden drawer.