Okla. Stat. tit. 36, § 36-7106

books and records.

A. No owner of a cemetery shall maintain a Perpetual Care Trust

Fund, or certificate of deposit in lieu of a Perpetual Care Trust

Fund, unless the owner has received a permit from the Insurance

Commissioner. Initial and renewal permit applications shall be

filed electronically in the manner and form prescribed by the

Commissioner, along with a two-hundred-dollar application fee and

any transaction or other applicable fees. The permit shall expire

on March 15 of each calendar year unless it is renewed by the permit

holder. A permit expired for failure to submit a renewal

application and fee may be reinstated within ninety (90) days after

the expiration date by electronically filing a renewal application,

paying a fee in an amount that is double the renewal fee, and paying

any transaction or other applicable fees in the form and manner

prescribed by the Commissioner. The Commissioner shall require a

permit holder whose permit has been expired for more than ninety

(90) days to reapply as if a new applicant and pay an application

fee equal to an amount that is double the renewal fee, in addition

to any other fines imposed. Any application received after the

permit has been expired for more than ninety (90) days shall include

a detailed report of Perpetual Care Trust Fund services provided in

this state during the period that the permit was expired.

Oklahoma Statutes - Title 36. Insurance Page 1484

B. The owner of a cemetery maintaining a Perpetual Care Trust

Fund or certificate of deposit in lieu of a Perpetual Care Trust

Fund shall, by March 15 of each calendar year, electronically file a

report and pay any applicable fees in the manner and form prescribed

by the Commissioner. Such report shall show, for the preceding

calendar year:

1. The gross amount received from sales of grave spaces, lots,

mausoleum crypts and niches;

2. The total purchase price of grave spaces, lots, mausoleum

crypts and niches on contracts which received final payment and

required deposits to the Perpetual Care Fund during the calendar

year;

3. The operating expenses incurred during the calendar year

which are eligible to be paid from income of the Perpetual Care

Fund;

4. The total amount of the principal of the Perpetual Care Fund

as of the beginning of the preceding calendar year; and

5. The amount segregated and deposited in the Perpetual Care

Fund as provided by the Perpetual Care Fund Act which, if the

Perpetual Care Fund is held in trust, shall be certified by the

trustee of the Perpetual Care Fund as to correctness thereof, and

the trustee shall provide:

a. the total amount of the principal of the Perpetual

Care Fund as of the end of the calendar year,

b. the securities and other assets in which such

perpetual care funds are invested,

c. the cash on hand,

d. a verification in writing of all assets in which

monies of the Perpetual Care Fund have been invested;

provided, the verification shall be obtained from the

holder or holders of the assets,

e. the income derived from the Perpetual Care Fund

investments during the calendar year, and

f. the gross expenditures or transfers from income of the

Perpetual Care Fund during the calendar year.

The annual fee collected pursuant to this subsection shall be

deposited in the State Insurance Commissioner Revolving Fund created

pursuant to Section 307.3 of this title.

C. If the Perpetual Care Fund is maintained in a certificate of

deposit in lieu of a trust fund, the cemetery shall provide in its

annual report a verification from the financial institution as to

the amount of principal of the Perpetual Care Fund as of the end of

the calendar year, and the amount of funds contributed to the

certificate of deposit by the cemetery as of each maturity date of

the certificate of deposit during the last calendar year.

D. The Commissioner shall have authority, at any time, to
provide in its

annual report a verification from the financial institution as to

the amount of principal of the Perpetual Care Fund as of the end of

the calendar year, and the amount of funds contributed to the

certificate of deposit by the cemetery as of each maturity date of

the certificate of deposit during the last calendar year.

D. The Commissioner shall have authority, at any time, to

inspect the books and records of any cemetery, and to make an

Oklahoma Statutes - Title 36. Insurance Page 1485

examination thereof for the purpose of determining if proper sums

have been deposited with the trustee in the Perpetual Care Fund, or

in a certificate of deposit maintained in lieu of a trust fund, and

if the Fund is being properly administered by the trustee in

accordance with the provisions of the Perpetual Care Fund Act and

rules of the Commissioner. The examination shall be conducted

pursuant to Sections 309.1 through 309.7 of this title and the cost

of the examination shall be paid by the cemetery owner. The cost of

the examination shall be billed directly to the cemetery owner by

the examiner. Each cemetery owner and trustee is responsible for

maintaining satisfactory books and records which adequately justify

all information contained in the annual report required by this

section.

E. Whenever a cemetery owner and/or trustee refuses to submit

the books, records, papers, and instruments of the cemetery to the

examination and inspection of the assistants or examiners of the

Insurance Commissioner, or refuses or neglects to establish or

maintain a Perpetual Care Trust Fund in accordance with the

requirements of the Perpetual Care Fund Act within ninety (90) days

after a written demand to establish or maintain a Perpetual Care

Fund is made by the Commissioner, or in any manner obstructs or

interferes with the examination of its cemetery or refuses to be

examined on oath concerning any of the affairs of its cemetery, the

Commissioner may make application for receivership in the manner of

a domestic insurer pursuant to Sections 1901 through 1920 of this

title.