The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
32-1391.04 - Prearranged funeral trust accounts; books and records; inspection and examination
32-1391.04. Prearranged funeral trust accounts; books and records; inspection and examination
A. All funeral establishments and financial institutions, on request of the department of insurance and financial institutions, shall make their prearranged funeral trust account books and records available for inspection and examination by the department of insurance and financial institutions.
B. Each financial institution with trust funds deposited pursuant to this article shall at least quarterly send a copy to the department of insurance and financial institutions of each cancellation request or death certificate the financial institution has received that resulted in a withdrawal of funds from the trust account.
C. A financial institution does not have a legal duty to inquire about the disbursement of any trust funds deposited pursuant to this article if the financial institution has received the properly executed notifications or certifications required by this article.
D. A financial institution or funeral establishment operating according to the trust provisions established in this article is not considered to be in the trust business under title 6, chapter 8.