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§ 55-11-11 Prearranged funeral contract pooled funds trust--Creation--Separate accounts--When consent of purchaser required.

SD Codified L § 55-11-11 (2019) (N/A)
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55-11-11. Prearranged funeral contract pooled funds trust--Creation--Separate accounts--When consent of purchaser required. A prearranged funeral contract pooled funds trust may be created by a funeral director or a funeral establishment licensed in South Dakota, the South Dakota funeral directors association or a cemetery association organized under chapter 55-12. However, separate accounts within the pooled funds trust shall be maintained so that a purchaser whose money has been deposited into the pooled funds trust may identify his money. No purchaser's money may be deposited into a pooled funds trust unless the purchaser signs a form consenting to the deposit of his money into a pooled funds trust. The provision regarding consent shall not apply to prearranged funeral trusts where the personal property and professional services are to be provided for a guaranteed amount of money.

Source: SL 1986, ch 408, § 9.

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§ 55-11-10 Applicability of § 37-24-5.4.
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§ 55-11-12 Death or relocation of beneficiary of irrevocable prearranged funeral trust--Seller's option to provide comparable services or return deposits and interest--Disposition of funds.