523A.403 Purchase agreements funded by certificates of deposit.
1. A purchase agreement may be funded by proceeds derived from a certificate of deposit in the name of the purchaser made payable to the seller upon the purchaser’s death.
2. The seller of a purchase agreement subject to this chapter which is to be funded by a certificate of deposit shall obtain all permits required to be obtained and comply with all reporting requirements under this chapter, implementing rules, and orders.
2001 Acts, ch 118, §30
Referred to in §523A.201, 523A.203, 523A.807
Structure Iowa Code
Chapter 523A - CEMETERY AND FUNERAL MERCHANDISE AND FUNERAL SERVICES
Section 523A.101 - Short title.
Section 523A.102 - Definitions.
Section 523A.201 - Establishment of trust funds.
Section 523A.202 - Trust fund deposit requirements.
Section 523A.203 - Financial institution trustees — qualification and investment requirements.
Section 523A.204 - Preneed seller annual reporting requirements.
Section 523A.205 - Financial institution annual reporting requirements.
Section 523A.206 - Examinations — authority and scope.
Section 523A.207 - Report by certified public accountants — penalties — waiver — confidentiality.
Section 523A.301 - Definition.
Section 523A.302 - Identification of merchandise and service provider.
Section 523A.303 - Disbursement of remaining funds.
Section 523A.401 - Purchase agreements funded by insurance proceeds.
Section 523A.402 - Purchase agreements funded by annuity proceeds.
Section 523A.403 - Purchase agreements funded by certificates of deposit.
Section 523A.404 - Merchandise delivered to the purchaser or warehoused.
Section 523A.405 - Bond in lieu of trust fund.
Section 523A.501 - Preneed sellers — licenses.
Section 523A.502 - Sales agents — licenses.
Section 523A.502A - Sales agent annual reporting requirements.
Section 523A.503 - Denial, suspension, revocation, and surrender of licenses.
Section 523A.504 - Appointment of sales agents — fee.
Section 523A.601 - Disclosures.
Section 523A.603 - Security and notice requirements.
Section 523A.604 - Purchase agreements — numbering.
Section 523A.701 - Misleading filings.
Section 523A.702 - Misrepresentations of government approval.
Section 523A.703 - Fraudulent practices.
Section 523A.704 - Violations.
Section 523A.801 - Administration.
Section 523A.802A - Service of process made on the commissioner as the agent for service of process.
Section 523A.803 - Investigations and subpoenas.
Section 523A.805 - Cease and desist orders — injunctions.
Section 523A.806 - Court action for failure to cooperate.
Section 523A.807 - Prosecution for violations of law.
Section 523A.808 - Cooperation with other agencies.
Section 523A.809 - Rules, forms, and orders.
Section 523A.810 - Date of filing — interpretive opinions.
Section 523A.810A - Electronic filing.
Section 523A.811 - Receiverships.
Section 523A.812 - Insurance division regulatory fund.
Section 523A.813 - License revocation — recommendation by commissioner to board of mortuary science.