This text of Iowa § 523I.314 (New construction) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. A person shall not offer to sell interment rights in a mausoleum or columbarium that
will be built or completed in the future unless the person has notified the commissioner of
the offer to sell on a form prescribed by the commissioner.
2. The notice of an offer to sell interment rights in such a mausoleum or columbarium
shall include the following information:
a. A description of the new facility or the proposed expansion, including a description of
the interment rights to be offered to prospective purchasers.
b. A statement of the financial resources available for the project.
c. A copy of the proposed interment rights agreement to be used, which shall include the
following:
(1)That purchase payments will be held in trust in accordance with the requirements of
chapter 523A until cons
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1. A person shall not offer to sell interment rights in a mausoleum or columbarium that
will be built or completed in the future unless the person has notified the commissioner of
the offer to sell on a form prescribed by the commissioner.
2. The notice of an offer to sell interment rights in such a mausoleum or columbarium
shall include the following information:
a. A description of the new facility or the proposed expansion, including a description of
the interment rights to be offered to prospective purchasers.
b. A statement of the financial resources available for the project.
c. A copy of the proposed interment rights agreement to be used, which shall include the
following:
(1) That purchase payments will be held in trust in accordance with the requirements of
chapter 523A until construction of the mausoleum or columbarium is complete.
(2) That the purchaser may request a refund of the purchase amount, if construction does
not begin within five years of the purchaser’s first payment.
(3) That the new facility will operate as a perpetual care cemetery in compliance with this
chapter, even if the facility is located at a nonperpetual care cemetery.
(4) That the purchaser will receive an ownership certificate upon payment in full or, if
later, when construction is complete.
3. Unless financing has been secured that is adequate in amount and terms to complete
the facility proposed, new construction of a mausoleum or columbarium shall not begin until
the notice required by this section has been approved by the commissioner.