Idaho Code 54-1138 – Enforcement Penalty — Disclosure of Contracts Upon Sale of Business
Current as of: 2023 | Check for updates
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(1) Sections 54-1129 through 54-1143, Idaho Code, shall be enforced by the Idaho state board of morticians or by the Idaho state board of cemeterians, depending upon whether the seller is a mortician/funeral director or cemeterian, who shall have authority to promulgate rules to enforce the provisions.
(2) Any person violating the provisions of sections 54-1129 through 54-1143, Idaho Code, shall be guilty of a misdemeanor unless such act is punishable as a felony elsewhere under law.
Terms Used In Idaho Code 54-1138
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- person: includes a corporation as well as a natural person;
Idaho Code 73-114State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114 Trustee: A person or institution holding and administering property in trust.
(3) No funeral service or funeral merchandise provider, be it funeral home or cemetery or third party seller, shall go out of business or sell a substantial part or all of its assets to any other person or firm without first disclosing the full particulars of all prearrangement sales contracts entered into by such seller, including the date of such contract, the purchaser thereof, the beneficiary, the amount of the trust, the name and location of trustee, and the merchandise or services to be provided under the terms of the contract.