state board of embalmers and funeral directors

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With regard to preneed contracts that are canceled, Missouri preneed sellers are being requested to retain the following documents:

 (1)       All records providing any sort of notice to the seller of the cancellation of a preneed contract; and

(2)        All records showing the date, name of who is paid, the amount paid out and a…

The next section of the Missouri preneed seller records rule would require funeral homes to retain copies of the periodic statements provided by banks, trustees and insurance companies:

Copies of account statements for joint accounts, trust statements for trust accounts, and any statements received from insurance companies listing the insurance policies in effect and/or the…

The next section of Missouri’s preneed record rule is confusing.  A prior provision of the rule (¶D(1)) would require a seller to maintain records reflecting the receipt of funds from an insurance company, and documents showing the seller’s performance of the contract.  However, for insurance funded contracts, the rule would also seek the following additional…

Missouri’s proposed preneed records rule includes a provision that would require funeral homes to document the payment of excess funds:

  1. For all fulfilled preneed contracts:

 (3)   Records showing payments made to the state of Missouri or to any other person including the amounts paid, the dates paid and the name of the person paid; and…

The next section of Missouri’s seller records rule proposal seeks the following documents:

  For all fulfilled preneed contracts:

(2)    Documentation showing payment to the provider by the seller including the name of the person or entity to whom payments were made, the date and amount of each payment, and a description of payment to the…

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 next section of Missouri record keeping proposal addresses funeral homes that handle insurance premium payments.  For funeral homes that rely upon insurance funding for their preneed program, the initial payment is typically handled by the funeral director or preneed agent, and then subsequent premium payments are made directly to the insurance company.  However, some…

The next section of Missouri’s preneed record keeping proposal  targets trust disbursements made for purposes other than preneed contract performances or cancellations:

(5)          Records showing any disbursement from a preneed trust or joint account for any purpose other than cancellation or fulfillment of a preneed contract with a description of the purpose for the disbursement…

Many Missouri preneed sellers have become dependent upon their trustee for the individual contract accounting required by law changes implemented in 2009.  Some of those same funeral homes also have consumers make their preneed contract payments directly to the trustee.  As a consequence, the seller does not handle consumer funds, and is unable to document…