Code of Maryland Regulations › Title 09 - MARYLAND DEPARTMENT OF LABOR › Subtitle 34 - OFFICE OF CEMETERY OVERSIGHT › Chapter 09.34.01 - Registration and Permit Requirements › Section 09.34.01.02 - Definitions

Current through Register Vol. 51, No. 14, July 12, 2024
A. In this chapter,
				the following terms have the meanings indicated.
B. Terms Defined.
(1) "Balance sheet" means a statement of
				financial position which presents assets, liabilities, and stockholders' equity
				or fund balance, and distinguishes current assets and current liabilities from
				other assets and liabilities.
(2)
				"Bona fide religious, nonprofit cemetery" means a cemetery which is owned and
				operated solely by a religious organization and is established as a nonprofit
				business entity.
(3) "Burial goods"
				means goods that are used in connection with either human or pet
				burial.
(4) "Cemetery" means the
				interment of either human or pet remains.
(5) "Comparative balance sheet" means a
				statement of financial position which presents assets, liabilities, and
				stockholders' equity or fund balance, and compares a previous year's results
				with the most recent year's results.
(6) "Contract" means an agreement between a
				consumer and a cemetery or burial goods business for any service or any burial
				good purchased from a cemetery or burial goods business.
(7) "Development stage enterprise financial
				sheet" means a financial statement which is prepared in conformity with
				generally accepted accounting principles and which includes the following:
(a) A balance sheet;
(b) An income statement;
(c) A statement of changes in financial
				position; and
(d) A detailed
				statement of stockholders' equity.
(8) "Director" means the Director of the
				Office of Cemetery Oversight.
(9)
				"Office" means the Office of Cemetery Oversight.
(10) "Registered cemeterian" means an
				individual who:
(a) Is registered to operate
				a cemetery as a sole proprietor or on behalf of a sole proprietor or permit
				holder; and
(b) May employ sales
				counselors to provide burial space, goods, or services.
(11) "Registered sales counselor" means an
				individual employed by a cemetery or burial goods business who provides burial
				space, goods, or services.
(12)
				"Registered seller" means an individual who:
(a) Is registered to provide burial goods as
				a sole proprietor or on behalf of a sole proprietor or permit holder to operate
				a burial goods business; and
(b)
				May employ sales counselors.
(13) "Responsible party" means a sole
				proprietor or the individual designated by a partnership, limited liability
				company, or corporation to be responsible for the operations of a cemetery or
				burial goods business.
(14)
				"Substantial doubt" means that a certified public accountant, after reviewing a
				business's balance sheet, related note disclosures, and supplementary
				information, determines that a company's ability to continue as a going concern
				is in doubt or that a company is unable to continue to meet its obligations as
				they become due without substantial disposition of assets outside the ordinary
				course of business, restructuring of debt, externally forced revisions of its
				operations, or similar actions.