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Utah Code Title 58. Occupations and Professions § 58-9-702. Payments to be held in trust--Trustee qualifications

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) All money representing payments for the purchase of a preneed funeral arrangement shall be deposited by the provider or sales agent receiving the payment:

(a) within 10 business days after the day on which the provider or sales agent receives the payment in the form of cash or cash equivalent; or

(b) within 35 calendar days after the day on which the provider or sales agent receives the payment in the form of a negotiable instrument.

(2) All money received under Subsection (1) shall be placed in a trust account naming as trustee a Utah financial institution authorized to engage in the trust business under Title 7, Chapter 5, Trust Business.

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Cite this article: FindLaw.com - Utah Code Title 58. Occupations and Professions § 58-9-702. Payments to be held in trust--Trustee qualifications - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-58-occupations-and-professions/ut-code-sect-58-9-702/

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