HOUSE BILL 631

Sponsored By:

Delegate Donoghue

Entitled:

Preneed Burial Contracts - Interest and Finance Charges

Synopsis:

Altering the conditions under which a preneed burial contract may provide for interest or a finance charge; providing that a preneed burial contract that provides for interest or a finance charge is subject to Title 12, Subtitles 5 and 6 of the Commercial Law Article; providing that if a registered cemeterian or permit holder sells a preneed burial contract to a commercial lending institution, the purchasing lending institution is restricted to the financing terms of the preneed burial contract; etc.

History by Legislative Date

House Action

2/7

First Reading Economic Matters

2/14

Hearing 3/7 at 1:00 p.m.

3/23

Unfavorable Report by Economic Matters

Senate Action

No Action

Bill indexed under the following Subjects:

CEMETERIES

CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT

FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.

FUNERALS

INTEREST

LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES

Bill affects the following Statute:

Business Regulation

( 5-704 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered