A. No prepaid funeral benefit permit holder shall change the name under which the permit holder operates except as provided in this section. The prepaid funeral benefit permit holder shall obtain approval from the Insurance Commissioner at least thirty (30) days prior to changing the name of the permit holder. The application for change of name of a prepaid funeral benefit permit holder shall be in a form provided by the Insurance Commissioner and shall contain, at a minimum, the following information:
1. The name of the permit holder;
2. The proposed new name of the permit holder; and
3. The date the name change will become effective.
B. The Insurance Commissioner may waive the approval requirement provided for in subsection A of this section upon good cause shown.
C. The Insurance Commissioner may deny the change of name of the prepaid funeral benefit permit holder upon good cause shown.
D. Upon approval of a change of name, the Insurance Commissioner shall issue a prepaid funeral benefit permit with the new name. The prepaid funeral benefit permit holder shall display in a conspicuous place at all times on the premises of the organization all permits issued pursuant to the provisions of this section. No organization may consent to or allow the use or display of the permit by a person other than the persons authorized to represent the organization in contracting prepaid funeral benefits.
E. The Insurance Commissioner may prescribe rules concerning matters incidental to this section.
Added by Laws 2021, c. 478, § 30, emerg. eff. May 12, 2021.