OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

SB 1682 - Pre-need Funeral Funds Amendments - Illinois Key Vote

Timeline

Related Issues

Stage Details

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.

Vetoed by Governor Pat Quinn


Full Bill Text
Veto Letter
See How Your Politicians Voted

Title: Pre-need Funeral Funds Amendments

Vote Smart's Synopsis:

Vote to pass a bill that changes regulations for pre-need funeral funds, requiring fees, disclosure, and management by a corporate fiduciary.

Highlights:

-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).

Full Bill Text

arrow_upward