§ 20-17-1007 - Examination of cemetery.
20-17-1007. Examination of cemetery.
(a) (1) (A) Each cemetery company examined in accordance with 20-17-1006 shall pay to the Arkansas Cemetery Board a fee for each examination as the board shall prescribe by rule.
(B) In addition, the cemetery company shall pay to the board the amount of expenses and stipends paid by the board to any board member examining the physical condition or appearance of a cemetery when the examination is ordered by the board on its own motion or on request of an interested individual.
(2) However, all examinations shall be conducted by at least one (1) examiner or board member, and the examinations shall be conducted only pursuant to an order of the board.
(b) (1) In lieu of any financial examination which the board shall be authorized to make, the board may accept the audit of an independent certified public accountant, provided that the Securities Commissioner has notified the cemetery company that the audit would be accepted and that the cemetery company has notified the commissioner in writing that an audit would be prepared.
(2) The costs of the audit shall be borne by the cemetery company, and the scope of the audit shall be at least equal to the scope of the examination required by the board.