Section 0780-05-09-.21 - REQUIREMENTS FOR EXEMPTION FROM FIDELITY BOND COVERAGEThe cemetery company shall, in order to establish that each account or trust fund requires authorization from at least two individuals for withdrawal, submit satisfactory documentation which includes at least the following:
(1) For each cemetery account, a current voided blank check(s) that clearly establishes that dual signatures are required for execution;(2) A copy of a certification letter from the trustee of the preneed merchandise and services trust fund that provides proof that dual signatures are required to request funds from the trust fund;(3) At a minimum, a compilation report including a balance sheet prepared by an independent certified public accountant in accordance with Generally Accepted Accounting Principles (G.A.A.P.).Tenn. Comp. R. & Regs. 0780-05-09-.21
Original rule filed November 2, 2007; effective January 16, 2008.Authority: T.C.A. §§ 46-1-301 and 46-1-202(c).