Montana Code 37-19-827. Contract for prearranged funeral plan or related services — trust requirement — interest — exception
37-19-827. Contract for prearranged funeral plan or related services — trust requirement — interest — exception. (1) Prearranged funeral or related services may be presented, negotiated, and sold to the public only by a licensed mortician.
Terms Used In Montana Code 37-19-827
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2)Except as provided in subsection (5), all money paid pursuant to a contract for a prearranged funeral or related services must be held in trust for the purposes for which the money was furnished until the obligations of a mortuary, a branch establishment, a crematory, a cemetery firm, or a mausoleum-columbarium corporation have been:
(a)fulfilled according to the terms of the contract; or
(b)terminated, by mutual consent of the parties, and the money is refunded to the proper party.
(3)Any interest accrued by money in a trust must be held in the trust and is subject to the terms of the trust agreement and the rules of the board.
(4)The board may require a mortuary, a branch establishment, or a crematory to provide an accounting or audit of the funds held in trust.
(5)Money paid for the purchase of a lot, grave space, mausoleum, crypt, niche, or burial right or part of a lot or grave space is not subject to the trust requirements of this section if title passes to the purchaser at the time that the payment is made.