Rule 24. Quarterly Reportorial Requirements

24.1   Every Pre-Need Company shall file with the Commission, duplicate copies of its interim periodic reports containing the financial condition of the Pre-Need Company on a quarterly basis within forty five (45) days after the end of the quarter. The Statement of Condition shall be prepared in accordance with the Pre-Need Uniform Chart of Accounts (PNUCA) set forth in these Rules and shall be signed by the President and Finance Officer of the Pre-Need Company.

24.2.  Every Pre-Need Company shall submit a “Trust Fund Statement”, which is a sworn financial report of the Trust Fund, within thirty (30) days from the end of each quarter.  A profit and loss statement in the maintenance of the Trust Fund assets shall be attached to the quarterly Trust Fund statement and any reduction in value due to the expenses shall be covered by additional deposits.

24.3.  In the “Trust Fund Statement”, marketable securities may be valued at lower of cost or market or market value provided full disclosure is made of the total cost and market as of statement date.  The incremental value of the blue chip securities and those listed in the Main Board of a stock exchange may be  allowed to cover any deficiency or future deposit requirement subject to such limitations as may be imposed by the Commission. 

24.4.  Every Pre-Need Company shall file a report on Lapsed Plans, Cancelled Plans and Surrendered Plans within sixty (60) days from the end of every quarter, reporting the following information:

a.)      Name of planholder;

b.)      Type of plan;

c.)      Number of installment/s paid;

d.)      Total payment made;

e.)      Name of salesmen/branch ;

f.)       Proof of Notice To Planholder of the Lapsation or Cancellation of his Pre-Need Plan.

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