August 19, 1996
AMENDMENT TO THE NEW RULES ON THE REGISTRATION AND SALE OF PRE-NEED PLANS AND SIMILAR CONTRACTS AND INVESTMENTS
Pursuant to the Revised Securities Act and other existing applicable laws, the Commission hereby promulgates the following amendment to the New Rules on the Registration and Sale of Pre-need Plans and Similar Contracts and Investments promulgated on December 29, 1987, so that Section 14 thereof shall read as follows: cdphil
"SECTION 14. Jurisdiction Over Cases. — The Commission shall, in accordance with existing laws, have the original exclusive jurisdiction to hear, try and decide cases involving complaints of plan holders against salesmen, solicitors and pre-need plan companies.
Complaints filed by pre-need salesmen, solicitors and pre-need companies against one another, however, shall be referred, whenever proper, to the Federation of Pre-need Plan Companies, for appropriate initial action and/or arbitration and who shall be allowed a period of forty-five (45) days within which to resolve the matter. The Commission shall assume jurisdiction over these complaints, however, upon certification from the Federation that the parties have chosen to invoke the jurisdiction...