Rule 590-3-4-.03 - Preneed Escrow Agreement(1) Filing. (a) Each preneed dealer shall file with the Secretary of State an executed copy of a preneed escrow agreement with an application for registration as required by the Act.(2) Review. Any preneed escrow agreement may be subject to the review and approval of the Secretary of State to determine compliance with the Act and these Rules. In the event the Secretary of State determines, after review, that the agreement does not comply with the Act and applicable Rules, the preneed dealer shall be notified in writing by the Secretary of State regarding any changes required to be made for compliance with the Act and the Rules.(3) Preneed escrow agreements on file with the Secretary of State prior to July 1, 2000, may be reviewed by the Secretary of State and, if reviewed, the preneed dealer shall be notified in writing of any changes required for compliance with the Act and the rules and regulations promulgated thereunder.(4) A preneed dealer, after written notification by the Secretary of State, shall have a reasonable period of time, not to exceed thirty (30) days, in which to respond and act upon changes to the preneed escrow agreement required by the Secretary.(5) Amendments. (a) Each proposed amendment or change to the preneed escrow agreement proposed by the preneed dealer shall be submitted to the Secretary of State.(b) Each preneed dealer shall be under a continuing duty to file with the Secretary of State any and all changes, amendments, or revisions of the preneed escrow agreement.(c) Any proposed amendment or change to the preneed escrow agreement on file with the Secretary of State may be reviewed by the Secretary of State and, if reviewed, the preneed dealer shall be notified in writing of any changes required for compliance with the act and the rules and regulations promulgated thereunder. The preneed dealer shall have thirty (30) days from the receipt of the written notice in which to respond and act upon changes to the preneed escrow agreement required by the Secretary of State. (4) Certification. Each preneed escrow agreement drafted by the registrant or its legal representative submitted to the Secretary of State must include a certification clause verifying that the agreement is in accordance with the Act and the Rules and Regulations.Ga. Comp. R. & Regs. R. 590-3-4-.03
O.C.G.A. Secs. 10-14-14, 44-3-139, 44-3-134, 44-3-137.
Original Rule entitled "Preneed Escrow Agreement" was filed as Emergency Rule 590-3-4-0.11-.03 on July 7, 1983; effective July 1, 1983, the date of adoption, to remain in effect for 120 days or until the effective date of a permanent Rule covering the same subject matter is adopted, as specified by the Agency.Amended: Permanent Rule of the same title adopted. Filed September 9, 1983; effective October 5, 1983, as specified by the AgencyAmended: Filed December 20, 1988; effective January 9, 1989.Repealed: New Rule, same title adopted. F. July 26, 2000; eff. August 15, 2000.Repealed: New Rule of same title adopted. F. May 19, 2005; eff. June 8, 2005.Amended: F. Feb. 19, 2013; eff. Mar. 11, 2013.