24.147.1304 PERPETUAL CARE AND MAINTENANCE FUND REPORTS
(1) A cemetery shall be required to submit an annual report. The report must consist of an audit opinion or attestation opinion on a form provided by the board. The report shall consist of an opinion of the accountant or auditor preparing such report. The report must be prepared by an independent certified public accountant or a licensed public accountant, provided that such report fully and accurately discloses the position of the perpetual care and maintenance fund. Failure to provide the annual report shall void the operating license of the cemetery.
(2) Each cemetery company shall file with the board annually, on or before June 1, or within five months after close of their fiscal year provided approval has been granted by the board, a written report in a format prescribed by the board setting forth:
(a) the number of preneed and at-need grave spaces and the number of crypts and niches sold or disposed of under perpetual care and maintenance by specific periods as set forth on the form prescribed;
(b) the amount collected and deposited in both the general and special perpetual care and maintenance funds segregated as to the amounts for crypts, niches and grave spaces by specific periods as set forth either on the accrual or cash basis at the option of the cemetery authority;
(c) a statement showing separately the total amount of the general and special perpetual care and maintenance funds invested in each of the investments authorized by law, and the amount of cash on hand not invested, which statement shall actually show financial condition of the funds;
(d) a statement showing separately the location, description, and character of the investments in which the perpetual care and maintenance funds are invested. The statement shall show the valuations of any securities held in the perpetual care and maintenance fund; and
(e) the report shall be verified by the owner, presiding officer, or their agent of the cemetery company, and shall be certified by the accountant or auditor preparing the report.
(3) Any cemetery company that does not file its report within the time prescribed may be subject to disciplinary action as prescribed by the Montana Administrative Procedure Act, and 37-1-304 , MCA, including a fine of up to $1000.
(a) A cemetery company may request waiver or reduction of a fine by making a written request. The request shall be postmarked within 30 days of notice of the fine, and shall be accompanied by a statement showing good cause for the request.
(b) The board may waive or reduce the fine where a timely request is made and where it determines, in its discretion, that the cemetery company has made a sufficient showing of good cause for the waiver or reduction.
(c) The board shall examine the reports filed with it as to the cemetery company's compliance with all relevant statutes, as to the amount of perpetual care and maintenance funds collected and as to the manner of investment of such funds.
(d) In the event that the board requires an audit, the board shall contract with a licensed or certified public accountant and the fee charged by the accountant for the actual cost of the audit must be paid by the cemetery company.
History: 37-1-131, 37-19-202, 37-19-807, MCA; IMP, 37-19-807, 37-19-822, 37-19-823, MCA; NEW, 1998 MAR p. 2959, Eff. 11/6/98; AMD, 2000 MAR p. 1630, Eff. 6/30/00; TRANS, from Commerce, 2002 MAR p. 790; AMD, 2004 MAR p. 1622, Eff. 7/23/04; AMD, 2006 MAR p. 1169, Eff. 5/5/06.