Rule 34. Closure of Branch Office(s) 

34.1.  Every Pre-Need Company desiring to close a branch office shall secure the prior approval of the Commission and in connection therewith, shall designate a resident agent/contact person in the area where the branches for closure are located who will receive payments of the Planholders to be deposited in the Pre-Need Company’s designated bank account and attend to the Planholders’ benefit claims, queries and complaints against the Pre-Need Company. 

34.2.  The following shall be submitted together with the application for closure:

a.     A copy of the affidavit of conformity of the resident agent/contact person or an agreement executed by and between the Pre-Need Company and the resident agent/contact person. 

b.     A Notice to Planholders duly published informing them of the closure of the branch and the name and address of the resident agent/contact person who will attend to their installment payment, benefit claim, queries and complaints against the pre-need company.  Publication shall be made in a newspaper of local circulation once at least two (2) weeks before effective date of closure, and the second publication within five (5) days from closure date. 

c.     An affidavit duly executed by a responsible officer of the Pre-Need Company to the effect that: i.) said notice has been sent by registered mail to all planholders being served by the branch office at the last address shown in the records of the branch and ii.) that said notice has been posted in the said office and in two (2) conspicuous places in the municipality where the branch office is located.

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