(a) In order to obtain a pre-need seller registration or a pre-need sales agent registration, an individual, funeral establishment or other individual, firm, partnership, company, corporation, or association shall:

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Terms Used In Tennessee Code 62-5-405

  • Commissioner: means the commissioner of commerce and insurance or the commissioner's designee. See Tennessee Code 62-5-403
  • 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.
  • Department: means the department of commerce and insurance. See Tennessee Code 62-5-403
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Funeral establishment: means any business, whether a proprietorship, partnership, firm, association or corporation, engaged in arranging, directing or supervising funerals for profit or other benefit, the preparing of dead human bodies for burial, the disposition of dead human bodies, the provision or maintenance of place for the preparation for disposition, or for the care or disposition of human bodies. See Tennessee Code 62-5-101
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Pre-need sales agent: means an individual who has applied for and has been granted, or who engages in conduct requiring, registration to sell pre-need funeral contracts on behalf of a pre-need seller pursuant to this part. See Tennessee Code 62-5-403
  • Pre-need seller: means a funeral establishment or other individual, firm, partnership, company, corporation, or association that has applied for and has been granted, or that engages in conduct requiring, registration to sell pre-need funeral contracts pursuant to this part. See Tennessee Code 62-5-403
(1) File an application with the department on a form prescribed by the commissioner; and
(2) Pay a nonrefundable filing fee in an amount set by the commissioner.
(b) A pre-need seller registration shall be valid only at the address provided in the application or at a new address approved by the commissioner.
(c) All registrations issued under this part shall be valid for two (2) years.
(d) All registrations become invalid unless renewed.
(e) The commissioner shall send a renewal notice and the renewal of a registration may be effected at any time during the two (2) months preceding the date of expiration upon submission of an application to the commissioner on the prescribed form, accompanied by a renewal fee as set by the commissioner.
(f) No later than seventy-five (75) days after the end of the pre-need seller’s fiscal year, pre-need sellers and trustees shall file an annual report with the commissioner on forms prescribed by the commissioner. The report shall include a summary of the information contained in the accounts, books, and records required to be kept pursuant to rules promulgated by the commissioner, and other information as the commissioner may reasonably require. An additional report shall not be required based on the establishment of trusts pursuant to this title and title 46. In such instance, only one (1) report shall be required.
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