What must a seller provide in their annual report for preneed contracts?

The requirement for a seller to provide a certification under oath in their annual report for preneed contracts is significant as it serves to ensure transparency and accountability in the management of these contracts. This certification confirms that the seller complies with all applicable laws and regulations governing preneed funeral contracts, thereby reinforcing consumer protection and trust in the practices of funeral service providers.

This element of certification also promotes consistent standards across the industry and helps regulatory agencies monitor compliance, ensuring that preneed funds are being handled appropriately. By requiring an oath, sellers reaffirm their commitment to ethical practices and provide assurances regarding the integrity of the information presented in the report. This can include details on financial handling, contract terms, and the seller's ability to fulfill the services promised.

In contrast, focusing solely on the total face value of contracted funerals or proof of prior licensing may not capture the full scope of operational compliance necessary for consumer protection. Additionally, providing a list of all funeral homes may not directly relate to the preneed contracts themselves and would not serve the same oversight function that the certification under oath accomplishes.