PocketLaw | Michigan Compiled Laws | 255 of 1986 - Prepaid Funeral and

255 of 1986 - Prepaid Funeral and Cemetery Sales Act (328.211 - 328.235)

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Section
328.211

Short Title.

Section
328.212

Meanings of Words and Phrases.

Section
328.213

Definitions; B to D.

Section
328.214

Definitions; D to M.

Section
328.215

Definitions; N to U.

Section
328.216

Certificate of Registration to Sell, Provide, or Agree to Provide Merchandise or Services Pursuant to Prepaid Contract; Application; Fee; Duration of Certificate; Contents of Application Form; Renewal of Registration; Sworn Statement or Special Report; Expiration of Certificate; Reinstatement of Registration; Grounds for Denial of Registration; Compliance; Petition for Reconsideration; Hearing.

Section
328.217

Deposit of Funds With Escrow Agent; Agreement to Allow Inspection and Copying of Records.

Section
328.218

Accounts, Books, and Records; Special Report; Examination; Corrective or Penal Action; Examination, Review, or Audit of Books and Records; Authorization of Escrow Agents to Open Records; Statement in Lieu of Special Report.

Section
328.219

Notice of Purchase or Assignment of Business Operations or Prepaid Contracts.

Section
328.220

Nonguaranteed or Guaranteed Price Contracts; Execution.

Section
328.221

Guaranteed Price Contract; Requirements.

Section
328.222

Funds to Be Held in Escrow by Escrow Agent; Additional Commission Not Subject to Depository Requirements; Commission if Contract Price Paid in Installments; Refund; Qualifications and Selection of Escrow Agent; Authorized Investments; Fees and Expenses; Commingling; Separate Accounting of Principal and Income; Notice to Contract Buyer; Disbursement of Funds; Nonprofit Corporation or Association as Escrow Agent; Furnishing Statement to Contract Buyer.

Section
328.223

Cancellation of Prepaid Contract by Contract Buyer; Notice; Disbursement of Principal and Income; Cancellation of Contract by Contract Seller or Provider; Failure to Use Escrow Account to Make Funeral Arrangements; Assignment or Transfer of Obligations.

Section
328.224

Liability for Principal and Income; Investment of Funds; Changing Escrow Agent or Depository.

Section
328.225

Prices or Quotations of Prices; Requirements; Exception; Manipulation of Prices Prohibited; Provision for Revocation of Contract; Refund; Disclosure of Right to Cancel Contract and Amount of Refund; Disclosure of Commissions; Services Requiring Mortuary Science License or Funeral Establishment License; Construction of Act; Designation of New Contract Beneficiary; Notice; Clear Indication of Nonguaranteed Price Contract, Actual Costs, and Obligations.

Section
328.226

Prepaid Funeral Contract Not in Writing as Voidable; Agreement as to Rate of Interest; Interest Added or Deducted in Advance; Computation of Interest; Financing of Contract.

Section
328.227

Rules Generally.

Section
328.228

Prohibited Conduct; Rules; Administrative Action.

Section
328.229

Irrevocable Prepaid Contract Approved by Family Independence Agency or Department of Community Health; Rules.

Section
328.230

Complaint; Investigation; Examination of Books, Records, Contracts, and Other Documents; Duties of Department on Determination of Reasonable Cause to Believe in Occurrence of Violation; Violation; Hearing; Duties of Department on Determination of Violation.

Section
328.231

Violations; Penalties.

Section
328.232

Conversion of Funds as Felony; Violation as Misdemeanor; Penalties.

Section
328.233

Noncompliance With Investment and Depositing Requirements; Petition for Appointment of Receiver; Notice; Hearing; Liquidation.

Section
328.234

Action to Force Compliance; Damages; Orders.

Section
328.235

Effective Date.