Title 58 Chapter 9 Section 702
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Occupations and Professions | |
Funeral Services Licensing Act | |
Section 702 | Payments to be held in trust -- Trustee qualifications. |
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58-9-702. Payments to be held in trust -- Trustee
qualifications.
(1) All money representing payments for the purchase of a preneed funeral arrangement shall be deposited by the provider or sales agent receiving the payment: (a) within 10 business days after the day on which the provider or sales agent receives the payment in the form of cash or cash equivalent; or (b) within 35 calendar days after the day on which the provider or sales agent receives the payment in the form of a negotiable instrument. (2) All money received under Subsection (1) shall be placed in a trust account naming as trustee a Utah financial institution authorized to engage in the trust business under Title 7, Chapter 5, Trust Business. Enacted by Chapter 49, 2003 General Session | |
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