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Bill Detail: HB22-1228

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Title Sunset Continue Regulate Preneed Funeral Contracts
Status Governor Signed (06/02/2022)
Bill Subjects
  • Health Care & Health Insurance
  • Insurance
House Sponsors R. Bockenfeld (R)
Senate Sponsors D. Coram (R)
House Committee Judiciary
Senate Committee Judiciary
Date Introduced 02/11/2022
Summary

Sunset Process - House Judiciary Committee. The bill
implements the recommendations of the department of regulatory

agencies, as contained in the department's sunset review of preneed
funeral contracts, as follows:
  • Continues the regulation of preneed funeral contracts for 7
years, to September 1, 2029;
  • Removes from statute the surety bond or net worth
requirements for an applicant for a license to sell preneed
funeral contracts and requires the commissioner of
insurance (commissioner) to establish the requirements in
rule;
  • Allows the commissioner to investigate the books, records,
and accounts of a contract seller without the requirement
that the commissioner receive a complaint or indication of
noncompliance;
  • Removes the fees for license renewal from statute and
requires the commissioner to establish the fees in rule
based on the cost of regulating the industry and the
outstanding preneed contract obligations of the contract
sellers;
  • Requires money held in trust for a preneed contract that is
unclaimed after a reasonable amount of time to be reported
to the state treasurer for deposit into the unclaimed property
trust fund; and
  • Requires each funeral establishment, at the time of
registration renewal, to attest to whether the funeral
establishment sells preneed contracts and requires the
director of the division of professions and occupations to
enter into a memorandum of understanding with the
commissioner to share information on funeral
establishments that sell preneed contracts.

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