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2015 SESSION
SB 1174 Cemetery Board; perpetual care trust funds, requirements.
Introduced by: Mark D. Obenshain | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Cemetery Board; perpetual care trust fund; preneed trust account; report of independent certified public accountant. Requires a cemetery company, for each fiscal year, to engage an independent certified public accountant to apply procedures specified by the Cemetery Board to the company's total receipts that are subject to provisions governing perpetual care trust funds and preneed trust accounts and provide the independent certified public accountant's report to the Board. The procedures established by the Board must be in accordance with standards established by the American Institute of Certified Public Accountants or any successor standard authority.
SUMMARY AS INTRODUCED:
Cemetery Board; perpetual care trust fund; evaluation by independent certified public accountant. Changes the requirement that cemetery companies conduct an annual audit of their perpetual care trust funds to a requirement that such companies conduct an evaluation of such funds by an independent certified public accountant.