W. Va. Code R. § 142-8-3 - Annual Report

3.1. Each and every person who applies for renewal of a certificate of authority pursuant to the provisions of W. Va. Code '47-14-3 shall be required to make an annual report for each reporting year or portion thereof as set forth in section 2.6 of this rule. Such report shall be filed at the time the application for renewal is filed.

3.2. Each annual report shall contain the following information:

3.2.1. An identification of all outstanding preneed funeral contracts, the dates upon which such contracts were entered, the names of all parties involved in such contracts or having any rights under such contracts, the amounts paid on such contracts, and the amounts owing on any contracts upon which payments are incomplete, or, with respect to contracts which will be funded by the proceeds of a life insurance or annuity contract for the contract beneficiary, the amount of such insurance or annuity, the insurance agent and insurer, the current beneficiary and the method of payment for such insurance or annuity contract;

3.2.2. The name of the seller and the name of the provider of services and goods and a statement that the provider has the capacity to perform all of its obligations under its contracts;

3.2.3. A statement that the seller and the person receiving funds paid thereunder have complied with applicable trust requirements of the Preneed Burial Contracts Act and this rule, identifying the present depository or holder of all trust funds with amounts thereof itemized as to each contract. This statement shall also include an accounting for each trust fund, describing all payments to and disbursements from the fund;

3.2.4. Any changes or amendments in any contracts or obligations of the contract seller or provider that have occurred during the reporting year which were not previously reported to the Department pursuant to W. Va. Code '47-14-8(f) and section 9.6 of this rule; and

3.2.5. The current price list of the provider for funeral goods and services and any other price list employed since the previous annual report.

3.3. No extensions shall be granted for any reporting year unless the holder of a certificate of authority is unable to gather the requisite information to complete the annual report and establishes such inability to the satisfaction of the Department. Any such extension shall be for a period and upon such terms as the Department, in its discretion, deems appropriate.

Notes

W. Va. Code R. § 142-8-3