2018 Wyoming Statutes
TITLE 26 - INSURANCE CODE
CHAPTER 32 - PREPAID OR PREARRANGED FUNERAL CONTRACTS
ARTICLE 1 - REGULATION OF PREPAID AND PREARRANGED FUNERAL CONTRACTS
SECTION 26-32-101 - Supervision and audit of funds; approval of investment; promulgation of rules and regulations; licenses.
26-32-101. Supervision and audit of funds; approval of investment; promulgation of rules and regulations; licenses.
(a) The department shall supervise and audit the funds derived by any person either residing in or doing business within the state, from prepaid or prearranged funeral contracts providing for the sale of caskets, burial vaults, monuments or memorials or any burial supplies and equipment and funeral services, if the sale is made, either outright or on the installment basis, prior to the demise of the person purchasing them or for whom they are purchased, with the merchandise or service, or both, to be delivered at a future date at time of need. All funds received from these contracts or arrangements by any person either residing in or doing business within this state shall be received, invested and withdrawn according to requirements the department approves. Investment in a bank, trust company or federal building and loan association in Wyoming is an approved investment.
(b) The commissioner shall promulgate rules and regulations for the purposes specified in subsection (a) of this section to include regulation of contract provisions and funds thereunder.
(c) A person shall not sell prepaid or prearranged funeral contracts in this state unless the person is licensed by the department in accordance with W.S. 26-9-203.
