436.490. Sale of business assets of provider--report to board required, contents. - Missouri Statutes

Sale of business assets of provider--report to board required,contents.

436.490. 1. A provider that intends to sell or otherwise dispose ofall or a majority of its business assets, or its stock if a corporation,shall notify the board at least sixty days prior to selling or otherwisedisposing of its business assets or stock, or ceasing to do business as aprovider, and shall file a notification report on a form established by theboard.

2. The report required by this section shall include:

(1) The name, phone number, and address of the purchasers of anyoutstanding preneed contract for which the licensee is the designatedprovider;

(2) The name and license numbers of all sellers authorized todesignate the licensee as a provider in a preneed contract;

(3) The name, address, and license number of the provider assuming oragreeing to assume the licensee's obligations as a provider under a preneedcontract, if any;

(4) The name, address, and phone number of a custodian who willmaintain the books and records of the provider containing information aboutpreneed contracts in which the licensee is or was formerly designated asprovider;

(5) A final annual report containing the information required bysection 436.460;

(6) The date the provider intends to sell or otherwise dispose of itsbusiness assets or stock, or cease doing business; and

(7) Any other information required by any other applicable statuteor regulation enacted pursuant to state or federal law.

3. Within three days after the provider sells or disposes of itsassets or stock or ceases doing business, the former provider shall notifyeach seller in writing that the former provider has sold or disposed of itsassets or stock or has ceased doing business.

(L. 2009 S.B. 1)