75-63-70 - Joint and several liability of preneed operator's managers, officers, directors, etc.
§ 75-63-70. Joint and several liability of preneed operator's managers, officers, directors, etc.
Upon a finding by a court of competent jurisdiction of failure to maintain or deposit in the trust account as required by this article, or of fraud, theft or misconduct by the preneed operator's managers, officers, directors or others who are personally responsible for the waste or unlawful depletion of trust funds, the managers, officers, directors or others may be jointly and severally liable for any deficiencies in the trust account as required by this article.
Sources: Laws, 2009, ch. 549, § 11, eff from and after July 1, 2009.