(2)__Upon revocation of the agreement if the agreement is revokable; and

(3)__For the actual financial and tax administration of the account.

The payee shall maintain a complete record of the deposit of all funds, including principal and interest.__The record must be available for inspection by the payor, the payor's legal representative, a member of the board or an inspector for the board and must contain the name and address of the financial institution or credit union and the dates and amounts of deposits.

E.__The funds may be withdrawn, if otherwise lawful and permitted by contract, by the payee on written instructions of the payor or the payor's legal representative or on the death of the person for whose benefit the funds were paid, in which event they must be used in accordance with the agreement.

2.__Rulemaking.__The board shall adopt rules regarding prearranged funeral agreements, including, but not limited to:

A.__The form, format and content of trust agreements;

B.__Standards regarding when service contracts are required in conjunction with trust agreements and the form, format and content of the service contracts;

C.__The establishment of reasonable fees that may be charged only pursuant to subsection 1, paragraph D; and

D.__Board inspection of trust agreements, account information and any related documentation.

Rules adopted pursuant to this section are routine technical rules under the Maine Revised Statutes, Title 5, chapter 375, subchapter II-A.

3.__Financial institution or credit union liability.__The financial institution or credit union is discharged from liability for payment of the funds in an account under subsection 1 upon presentation of a written consent to withdrawal signed by the payor or the payor's legal representative and by the payee or upon presentation of proof of death of the person for whose benefit the funds were paid.