SENATE BILL 471

Sponsored By:

Senator Della

Entitled:

Morticians and Cemeteries - Preneed Contracts - Trust and Escrow Requirements

Synopsis:

Changing the trust and escrow requirements for specified sellers of preneed contracts for funeral and cemetery goods and services; providing that a buyer of a preneed burial contract may receive a refund at any time; providing for the distribution of accrued income between the buyer and seller of a preneed contract; requiring sellers of preneed contracts to provide specified disclosures and price lists to buyers; specifying reporting requirements for specified sellers of preneed contracts; etc.

Legislative History

Senate Action

1/30

First Reading Finance

Hearing 2/12 at 1:00 p.m.

3/10

Unfavorable Report by Finance

House Action

No Action

Bill indexed under the following Subjects:

AUDITORS AND AUDITS

CEMETERIES

CONSUMER PROTECTION -see also- ADVTG.; LABELING; WARRANTIES.

CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT

DISCLOSURE

ESCROW ACCOUNTS

FUNERALS

INTEREST

MORTICIANS

PRICES

REPORTS -see also- RECORDS

TITLES

Bill affects the following Statutes:

Business Regulation

( 5-401 , 5-404 , 5-405 , 5-409 , 5-410 )

Health Occupations

( 7-405 , 7-405 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)