The per-contract fees shall be remitted quarterly to the association for each quarter of the calendar year with a quarterly fee form as prescribed by the Secretary of State. The per-contract fee is not subject to the trusting requirements of Section 75-63-59. The fees shall be remitted to the association no later than fifteen (15) days after each quarter. Absent the Secretary of State's approval of an extension for good cause shown, preneed providers failing to timely report and remit the per-contract fee to the association may be subject to a penalty of One Hundred Dollars ($100.00) per day for each day of delinquency, payable to the fund.
Further, no claimant shall be eligible for compensation from the fund unless the contract purchaser for whom a claim is asserted paid to the preneed provider the loss recovery fee required by subsection (2) of this section. The fund shall have no liability for preneed contracts sold or claims that occurred or accrued before July 1, 2009.
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 63 - Sales of Cemetery Merchandise and Funeral Services
Article 3 - Preneed Cemetery and Funeral Registration
§ 75-63-57. Record-keeping requirements
§ 75-63-59. Requirements for contract funded by trust
§ 75-63-63. Preneed contracts to be portable; who may name a substitute provider
§ 75-63-70. Joint and several liability of preneed operator's managers, officers, directors, etc.
§ 75-63-75. Article does not constitute authorization for unlicensed persons to sell life insurance