N.J. Admin. Code § 13:36-11.19

Current through Register Vol. 56, No. 24, December 18, 2024

Section 13:36-11.19 - Notification of dissolution or bankruptcy

(a) Whenever a provider or owner of a registered mortuary discontinues business or files for bankruptcy, the manager or owner shall provide written notice of said discontinuation or bankruptcy to all purchasers of active prepaid funeral agreements.

(b) The notice required by (a) above shall advise the purchasers of the prepaid funeral agreements and preneed funeral arrangements that they may:

1. Revoke the funding of their prepaid agreements and receive a refund, except in the case of irrevocable funding;

2. Sever the funding of a funeral insurance policy from the prepaid agreement; or

3. Transfer or assign their prepaid agreements and preneed arrangements to another registered mortuary.

(c) The notice required by (a) above shall be provided as soon as possible prior to the discontinuation of business or bankruptcy, but no later than five days before the occurrence.

(d) Proof that the required notice was delivered to the purchasers of prepaid funeral agreements shall be immediately furnished to the Board by the manager or owner of the registered mortuary and shall be maintained by the registered mortuary consistent with the recordkeeping requirements set forth at N.J.A.C. 13:36-1.8.

N.J. Admin. Code § 13:36-11.19

Amended by R.2005 d.100, effective 4/4/2005.
See: 36 New Jersey Register 4651(a), 37 New Jersey Register 1036(b).
Rewrote (a) and (d).