Rep. Robert Martwick
Filed: 5/17/2019
 
 

 

 

 
10100SB1464ham001LRB101 09433 LNS 60712 a



1
AMENDMENT TO SENATE BILL 1464 




2    AMENDMENT NO. ______. Amend Senate Bill 1464 on page 5, 
3immediately below line 10, by inserting the following:

4        "(9.5) funds on deposit or held in trust pursuant to 
5    Section 16 of the Pre-Need Cemetery Sales Act attributable 
6    to undelivered cemetery merchandise and unperformed 
7    cemetery services, including undistributed interest earned 
8    thereon, 2 years after the earlier of:
9            (A) the later of:
10                (i) the date the seller in the ordinary course 
11            of its business receives notice or an indication of 
12            the death of the beneficiary; or
13                (ii) 10 years after the death of the 
14            beneficiary if the beneficiary is cremated and the 
15            purchaser or the heir or assign, or a duly 
16            authorized representative of the purchaser or the 
17            beneficiary, has not indicated an interest in the 
18            trust funds;
 
 
10100SB1464ham001- 2 -LRB101 09433 LNS 60712 a

1            (B) the date the beneficiary has attained, or would 
2        have attained if living, the age of 105 if both the 
3        trustee and the seller do not know whether the 
4        beneficiary is deceased; or
5            (C) 50 years after the pre-need contract was 
6        executed, unless the purchaser or the heir or assign, 
7        or a duly authorized representative of the purchaser or 
8        the beneficiary, has indicated an interest in the 
9        property more than 50 years after the pre-need contract 
10        was executed, in which case, 3 years after the last 
11        indication of interest by the purchaser or the heir or 
12        assign, or a duly authorized representative of the 
13        purchaser or the beneficiary;"; and
 
14on page 9, immediately below line 16, by inserting the 
15following:
 
16    "Section 99. Effective date. This Act takes effect upon 
17becoming law.".