Establishing a cemetery authority.

A. A person establishing or acquiring a cemetery subject to the Endowed Care Cemetery Act shall file an initial registration with the director that contains the following information: (1) a detailed financial statement of the proposed owners; (2) a current credit report of the person establishing or acquiring the cemetery and a resume for each principal; (3) the full name and address of the registrant, if an individual; of every member, if the registrant is a partnership or an association; of every officer, if the registrant is a corporation; and of any person owning ten percent or more of the cemetery; (4) a plot plan that identifies the endowed care sections of the cemetery and all plans for future expansion of the cemetery; (5) a copy of the form of contracts or instruments to be used in the sales of endowed care lots, graves, crypts or niches; (6) proof of ability to make the initial deposit or secure a surety bond as required by Section 58-17-11 NMSA 1978; (7) a registration fee in the amount of fifty dollars ($50.00); and (8) any other information requested by the director. B. Failure to submit the information specified in Subsection A of this section shall result in the denial of the registration to sell endowed care. Until a registration to operate a cemetery is approved by the director, a person establishing or acquiring a cemetery authority shall not advertise, represent, guarantee, promise or contract that perpetual care, endowed care or any similar care will be furnished.