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Senate Bill 0204


 

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Senate Bill 0204

ARCHIVE (2000)

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DIGEST OF SB204 (Updated February 23, 2000 3:43 PM - DI 84)

Prepaid funeral contracts. Provides that if a contract for prepaid funeral services is funded by a previously issued insurance policy, any policy amounts remaining in trust after the funeral services or merchandise are paid for must be paid to the entity or individual named as the beneficiary of the insurance death benefit proceeds not later than 60 days after receipt and deposit of the proceeds by the seller. Specifies that the seller may not qualify as a beneficiary of the remaining amount. Eliminates a provision that allows a seller of prepaid or at-need funeral services or merchandise to charge an in-state successor seller of prepaid or at-need funeral services or merchandise a transfer fee not to exceed 5% of the contract price.
    Current Status:
     Law Enacted
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