2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 523I - IOWA CEMETERY ACT
523I.314 - NEW CONSTRUCTION.

        523I.314  NEW CONSTRUCTION.
         1.  A person shall not offer to sell interment rights in a
      mausoleum or columbarium that will be built or completed in the
      future unless the person has notified the commissioner of the offer
      to sell on a form prescribed by the commissioner.
         2.  The notice of an offer to sell interment rights in such a
      mausoleum or columbarium shall include the following information:
         a.  A description of the new facility or the proposed
      expansion, including a description of the interment rights to be
      offered to prospective purchasers.
         b.  A statement of the financial resources available for the
      project.
         c.  A copy of the proposed interment rights agreement to be
      used, which shall include the following:
         (1)  That purchase payments will be held in trust in accordance
      with the requirements of chapter 523A until construction of the
      mausoleum or columbarium is complete.
         (2)  That the purchaser may request a refund of the purchase
      amount, if construction does not begin within five years of the
      purchaser's first payment.
         (3)  That the new facility will operate as a perpetual care
      cemetery in compliance with this chapter, even if the facility is
      located at a nonperpetual care cemetery.
         (4)  That the purchaser will receive an ownership certificate upon
      payment in full or, if later, when construction is complete.
         3.  Unless financing has been secured that is adequate in amount
      and terms to complete the facility proposed, new construction of a
      mausoleum or columbarium shall not begin until the notice required by
      this section has been approved by the commissioner.  

         2005 Acts, ch 128, §36