(1) No person, firm, or corporation shall sell or offer to sell, or make or offer to make at-need funeral arrangements, preneed funeral arrangements, or prepaid funeral agreements, unless that person is a duly licensed mortician.
(2) The following monies shall be held in trust by a mortician, mortuary, branch establishment, cemetery, or any other person, firm, or corporation:
(a) any monies paid under or in connection with a funeral trust agreement where:
(i) the funeral trust agreement is intended to provide funeral goods and/or service for the named person referred to in this part as beneficiary, who may or may not be the same person as the purchaser;
(ii) the sale of personal property to be used in connection with a funeral or burial, wherein the delivery of such personal property is not to occur until after the death of the beneficiary of the trust; and/or
(iii) the furnishing of personal services are not rendered until the occurrence of the death of the beneficiary of the trust.
(3) Trust funds shall be deposited in accordance with 37-19-828, MCA.
(4) Trust funds shall be held on deposit, together with any interest until the personal property has been delivered and the personal services have been rendered, unless sooner repaid, in whole or in part.
(a) When there is a closure or change of ownership of a mortuary, branch establishment, or crematory, the requirements of ARM 24.147.1506 must be met.
(5) Any funeral trust agreement shall include a provision that a preneed purchaser shall receive a receipt for the deposited funds from the depository institution. The funeral trust agreement must include a disclosure to the preneed purchaser that the purchaser should receive the receipt within 30 days, and if the receipt is not received within the 30-day timeframe, the purchaser should contact the preneed seller.
(6) No later than 30 days from issuance of the death certificate following the performance of preneed funeral arrangements pursuant to a prepaid funeral agreement, the mortician, mortuary, branch establishment, cemetery, crematory, or any other person, firm, or corporation holding trust funds shall close and distribute the funds to trust beneficiaries.