Section 3.04. Approval of warehouses located outside this state.

  The board shall approve a warehouse located outside this state upon the following conditions:

(1)  Submission of proof that the warehouse is authorized to store cemetery merchandise within its state of location. Proof of such authorization may be made through the submission of a copy of the current license, permit, certificate, registration, or other document issued by the agency regulating warehouses in that state, or through the submission of such other information or statements acceptable to the board.

(2)  

(a) The filing with the board of a bond furnished by a surety company authorized to do business in this state in an amount that is sufficient to guarantee the delivery of cemetery merchandise to purchasers under preneed sales contracts.

(b) The bond shall be payable to the department of safety and professional services for the benefit of purchasers of stored property or their assignees.

(c) The amount of the bond shall be in an amount approved by the board, and in no case less than 100 percent of the wholesale value of the cemetery merchandise that is stored and to be transported to this state as of the date of the application.

(d) The bond shall remain in effect throughout the time that the warehouse remains approved by the board, and the warehouse keeper shall submit a copy of each bond renewal certificate to the board.

History: CR 12-021 : cr. Register August 2012 No. 680 , eff. 9-1-12.