Termination of Pre-need Plans.
Section 24
SEC. 24. Termination of Pre-need Plans. — A planholder may terminate his pre-need plan at any time by giving written notice to the issuer. A pre-need plan shall contain a schedule of termination values to which the planholder is entitled to upon termination. Such schedule of termination value shall be required for all in-force pre-need plans and shall be fair, equitable and in compliance with the Commission issuances. The termination value of the pre-need plan shall be predetermined by the actuary of the pre-need company upon application for registration of the pre-need plans with the Commission and shall be disclosed in the contract.