Dan Brady voted Nay (Passage With Amendment) on this Legislation.
Title: Pre-need Funeral Funds Amendments
NOTE: THE GOVERNOR HAS PROPOSED AMENDMENTS TO THE LEGISLATION WHICH MUST EITHER BE OVERRIDDEN OR CONCURRED WITH BY THE GENERAL ASSEMBLY BEFORE THE BILL BECOMES LAW.
Title: Pre-need Funeral Funds Amendments
Vote to pass a bill that changes regulations for pre-need funeral funds, requiring fees, disclosure, and management by a corporate fiduciary.
-Requires a $5 fee for each pre-need contract, which is sent to the Comptroller and deposited into the Pre-need Funeral Consumer Protection Fund, created to insure against losses in the fund (Sec.1a-2). -Provides the process for receiving restitution money from the Fund if an individual fails to receive their benefits or their contract gets cancelled (Sec.1a-2). -Requires trust arrangements regarding pre-need funeral funds to be maintained by a corporate fiduciary (Sec.2). -Requires the management of a pre-need funeral trust to at least annually give all purchasers receipts, disbursements, inventory notes and explanation of fees and expenses (Sec.2).
Title: Pre-need Funeral Funds Amendments