(a)What unique defined terms are used in this section? (1) - (3)(No change.) (4)"Maintain" means to store and retain records either in hard copy form or on microfiche or in an electronic database from which the record can be retrieved and printed in hard copy in a manner that does not impede the efficient completion of the examination [information and documents specified by this section in such a way that the information can be expeditiously retrieved for examination by the commissioner, whether by hard copy or produced electronically and printed for review]. (b)What records must I maintain? (1)You must maintain the following records in a general file that is readily accessible to the department: [(A)the current certificate of authority to operate a perpetual care cemetery, unless prominently displayed in the cemetery office;] [(B)the latest filed annual statement required under Health & Safety Code, §712.041;] (A) [(C)] your most current consolidated financial statement or, in the alternative, your most current financial records and/or tax return, provided that the records must substantiate your use or expenditure of fund income; (B) [(D)] a sample form of each purchase agreement you currently use; (C) [(E)] a sample form of each document of conveyance of interment rights you currently use; (D) [(F)] the current trust agreement governing the fund, if amended since the last examination; (E) [(G)] if the certificate holder received a uniform risk rating of 3, 4, or 5 at the last examination or if the last examination was a limited scope examination, the examination report acknowledgments, signed by the certificate holder's board of directors, for the last examination report (See Texas Department of Banking Supervisory Memorandum 1014 (2006) for an explanation of the perpetual care cemetery rating system.) [all examination reports and official correspondence sent to you by the banking department during the preceding three years]; (F) [(H)] all trustee/depository statements covering the perpetual care fund, provided at least quarterly, and all written correspondence from the trustee that you received since the last examination; (G) [(I)] minutes of each meeting of the cemetery corporation's board of directors held since the last banking department examination or, if the cemetery corporation is a wholly-owned subsidiary and does not hold board meetings, minutes of each meeting of the parent corporation's board of directors held since the last examination; (H) [(J)] all recordkeeping exceptions and other department or commissioner approvals or directions upon which the certificate holder relies in connection with its current operations [all correspondence you sent to or received from the banking department during the preceding three years]; (I) [(K)] all maps, plats, and property dedications, and a list of these that reflects [ you have filed reflecting] the dates of filing in the county records under Health & Safety Code, §711.034; (J) [(L)] your current sales maps showing the sold and unsold spaces in all gardens, mausoleums, crematories, and columbaria in the cemetery; (K) [(M)] records and photographs relating to lawn crypt construction and completion, to demonstrate you complied with Health & Safety Code, §711.061 and §711.062 [§711.061]; (L) [(N)] each cemetery price list that you used at any time since the last examination [ in the preceding three years]; and (M) [(O)] your quarterly reconciliation of capital gains and losses in the fund since the last examination, if your trust agreement includes capital gains and losses in the definition of trust income. (2) - (5)(No change.) (c) - (d)(No change.)
This agency hereby certifies that the proposal has
been reviewed by legal counsel and found to be within the agency's
legal authority to adopt.
Filed with the Office
of the Secretary of State on February 18, 2011
TRD-201100690 A. Kaylene Ray
General Counsel
Texas Department of Banking
Proposed date of adoption: April 15, 2011
For further information, please call: (512) 475-1300
|
