Tennessee Code 62-5-412 – Transfer of registration
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Terms Used In Tennessee Code 62-5-412
- Commissioner: means the commissioner of commerce and insurance or the commissioner's designee. 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
- signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
A pre-need seller registration may be transferred to a new owner upon payment of a fee fixed by the commissioner and upon submission of an audit report prepared and signed by an independent certified public accountant licensed in this state. All the fees and expenses in connection with the audit are not the responsibility of the trustee or the trust. The audit report shall include an unqualified opinion on the accuracy of the trust fund balances and a report of compliance with this part. Shortages in the trust funds shall be funded by the pre-need seller or new owner prior to a transfer of registration.