Summary of the Introduced Bill

HB 2469 -- Preneed Funeral Contracts

Sponsor:  Kuessner

This bill changes the laws regarding preneed funeral contracts.
In its main provisions, the bill:

(1)  Revises the definition of "preneed contract" as any
agreement, contract, or plan requiring the payment of money in a
lump sum or installments which is made or entered into with any
person for the final disposition of a dead human body, for
funeral or burial services, or the furnishing of funeral
merchandise where the delivery of the funeral merchandise or the
furnishing of services is not immediately required;

(2)  Allows for a hardship exemption for maintaining a preneed
trust at the discretion of the State Board of Embalmers and
Funeral Directors in the Division of Professional Registration
within the Department of Insurance, Financial Institutions, and
Professional Registration;

(3)  Requires all funds received as payment on a preneed contract
to be deposited into the seller's trust account within three
business days of receipt;

(4)  Authorizes the trustee certain powers regarding the removal
and replacement of financial advisors;

(5)  Allows preneed contracts to be funded by whole life
insurance policies in lieu of the preneed trusts; and

(6)  Specifies the powers and duties of the Attorney General,
division, and state board regarding administrative, civil, and
criminal actions against licensees.

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm