Illinois General Assembly - Bill Status for SB2364
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 Bill Status of SB2364  95th General Assembly


Short Description:  FUNERAL/BURIAL FUNDS-GUARANTEE

Senate Sponsors
Sen. Pamela J. Althoff

Last Action
DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
225 ILCS 45/1afrom Ch. 111 1/2, par. 73.101a
225 ILCS 45/1a-1
225 ILCS 45/1a-2 new
225 ILCS 45/1bfrom Ch. 111 1/2, par. 73.101b
30 ILCS 105/5.708 new


Synopsis As Introduced
Amends the Illinois Funeral or Burial Funds Act. Removes references to finance charges from the definition of "sales proceeds" and "purchase price". Allows a purchaser to cancel a pre-need contract within 30 days after all parties have signed the contract and receive 100% of all payments made under the contract. Creates the Pre-need Funeral Contract Guarantee Fund, into which $5 from each pre-need contract sold by a licensee under the Act shall be deposited. Provides that the Fund shall be used by the Comptroller to pay restitution to purchasers who are unable to receive the benefits of a pre-need contract or to receive the funds due by reason of cancellation of a pre-need contract. Removes an exception that allows a trustee to be the seller or provider of funeral services or merchandise. Makes other changes. Amends the State Finance Act to establish the new Fund.

Actions 
DateChamber Action
  2/14/2008SenateFiled with Secretary by Sen. Pamela J. Althoff
  2/14/2008SenateFirst Reading
  2/14/2008SenateReferred to Rules
  3/5/2008SenateAssigned to State Government and Veterans Affairs
  3/13/2008SenatePostponed - State Government and Veterans Affairs
  3/14/2008SenateRule 3-9(a) / Re-referred to Rules
  1/13/2009SenateSession Sine Die

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