SECTION 365:25-9-3. Forms

(a)   General requirements.

(1)   Application for prepaid funeral benefits permit form. An application for Prepaid Funeral Benefits form shall be filed using the Prepaid Funeral Benefits Permit Original Application as set forth in Appendix C of this chapter. The application must be filed with and approved by the Insurance Commissioner before any contracts covered by this act may be marketed. The statutory fee of $50.00 must accompany this application. An NAIC UCAA Biographical Affidavit must be submitted for each owner(s) of the organization and each designated agent as defined by Section 6126 of the Act.

(2)   Bond form requirements. Appendix D of this chapter is a sample bond to be used in connection with "The Act". Any variance from this form must have the prior written approval of the Insurance Commissioner. If any bond required by "The Act" is canceled for any reason, a thirty (30) day written notice must be given by the insurer to the Insurance Commissioner.

(3)   Conversion Forms. Applications for Conversion from a trust funded prepaid funeral benefit to an insurance-funded prepaid funeral benefit shall be filed with and approved by the Insurance Commissioner before any contracts covered by "The Act" may be converted. Applications for Conversion shall be filed using the Application for Conversion form as set forth in Appendix R of this chapter. Any variance from this form must have prior written approval by the Insurance Commissioner.

(4)   Notice of Sale. The seller of a prepaid funeral benefits permit holding funeral home must make application forty-five (45) days prior to the transfer of ownership using the Sellers Notice to the Insurance Commissioner (PFSN 2009) form as set forth in Appendix X of this chapter. In addition to the notice, the seller must also submit a listing of unrealized prepaid funeral contracts. Insurance funded contracts should be listed independently from trust funded contracts. The listing will, at minimum, reflect the contract holder's name, contract number, contract value, the name of the insurer and the policy's face value (when applicable), and the trust value at the time of notice (when applicable).

(5)   Assumption Affidavit. The buyer of a prepaid funeral benefits permit holding funeral home must notify the Commissioner of their intent to purchase thirty (30) days prior to transfer of ownership using the Assumption Affidavit (PFAA 2009) form as set forth in Appendix Y of this chapter.

(6)   Application for Renewal. The application for renewal of a prepaid funeral benefits permit must be filed with the Commissioner no later than December 31 of each year, using the Application for Renewal (PFBR 2009) form as set forth in Appendix M of this chapter, in order to renew the permit for the succeeding calendar year. The statutory fee of $50.00 must accompany the application.

(b)   Additional general requirements.

(1)   Annual reports.

(A)   Annual reports must be filed in accordance with Section 6128 of "The Act". Such reports should be submitted in columnar form in alphabetical order according to the last name of the contract holder. A complete annual report shall be composed of the following items arranged in the order shown below:

(i)   PF-1-a

(ii)   PF-1-b

(iii)   PF-1-c

(iv)   PF-1-d

(v)   PF-2-a

(vi)   PF-2-b

(vii)   PF-2-c

(viii)   PF-3

(B)   Computer print-outs may be submitted in lieu of the reports listed above so long as each legibly provides no less information than shown in the Insurance Commissioner's sample forms. Not less than one page of each annual report form shown above, other than the PF-2-b, shall be submitted. However, where a particular form is not relevant to the operations of a given permitholder, it may be submitted clearly marked, "Not Applicable".

(2)   Annual statement of financial condition. An Annual Statement of Financial Condition-Reconciliation of Trust Accounts(form PF-3) must be filed in accordance with Section 6129 of "The Act".

[Source: Amended at 10 Ok Reg 1507, eff 5-1-93; Amended at 17 Ok Reg 1701, eff 7-14-00; Amended at 25 Ok Reg 1660, eff 7-14-08; Amended at 26 Ok Reg 1654, eff 7-14-09; Amended at 27 Ok Reg 165, eff 11-1-09 (emergency); Amended at 27 Ok Reg 1551, eff 7-14-10]