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24.147.1505    TRUST FUNDS

(1) No licensee of the Montana Board of Funeral Service, or any director, officer, or employee of any mortuary, cemetery, crematory, or other provider shall directly or indirectly, for the director or officer, or as the partner or agent of others, borrow any prepaid funeral trust funds, including principal or accrued interest. No such person shall become an endorser or surety for loans to others, nor in any manner be an obligor for money borrowed from or loaned by the prepaid funeral trust. No business entity, of which a mortician, funeral director, mortuary employee, mortuary owner or family member of a mortician or funeral director, mortuary owner, or mortuary employee or business entity in which either of them is in any manner interested, shall borrow any of the funds of a preneed funeral trust.

History: 37-1-131, 37-19-101, 37-19-202, MCA; IMP, 37-19-827, 37-19-828, 37-19-829, MCA; NEW, 2000 MAR p. 1630, Eff. 6/30/00; TRANS, from Commerce, 2002 MAR p. 790.

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