HR0177 LRB096 11917 ASK 23136 r

1
HOUSE RESOLUTION

 
2     WHEREAS, Pre-arrangement plans for funerals and burials or
3 other means of final disposition have increasingly become
4 embattled in controversy in the State of Illinois; and
 
5     WHEREAS, The types of investment plans chosen by pre-need
6 sellers have come under increased scrutiny, including but not
7 limited to investments in life insurance policies, trust
8 accounts, and other funding means; and
 
9     WHEREAS, A lack of oversight has resulted in certain
10 investments by the Illinois Funeral Director's Association
11 losing millions of dollars of consumer trust funds and all
12 accounts being marked down to compensate for the losses; and
 
13     WHEREAS, Litigation has been filed and criminal
14 investigations have been ongoing accusing both Trust and
15 Pre-Need life insurance companies of a "pattern and practice of
16 deceit"; and
 
17     WHEREAS, A growing number of individuals who have
18 contracted pre-arranged funeral and burial services are
19 discovering that the funds deposited as part of the pre-need
20 sales contract do not adequately cover the costs of the funeral
21 and burial pre-arrangements chosen by the consumer; therefore,

 

 

HR0177 - 2 - LRB096 11917 ASK 23136 r

1 be it
 
2     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
3 NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
4 the Funeral and Burial Pre-Arrangement Investigation Task
5 Force be created to investigate and study the reasons for
6 losses of the Pre-Need Funeral Trust Fund of the Illinois
7 Funeral Directors and any and all other Funeral and Burial
8 Pre-Need funding plans and investments offered in Illinois; and
9 be it further
 
10     RESOLVED, That the Task Force make recommendations for the
11 oversight and operation of all funeral and burial pre-need
12 programs offered by whatever funding means, and develop
13 possible new licenses and continuing education components to
14 protect the consumer and profession, and to educate sellers in
15 the industry, in the State of Illinois; and be it further
 
16     RESOLVED, That the Task Force shall consist of the
17 following members: three members appointed by the Speaker of
18 the House of Representatives and three members appointed by the
19 Minority Leader of the House of Representatives (one of the six
20 appointed House members shall be appointed chairperson); one
21 member appointed by the Director of the Division of Insurance
22 within the Department of Financial and Professional
23 Regulation; and one member appointed by the Secretary of the

 

 

HR0177 - 3 - LRB096 11917 ASK 23136 r

1 Department of Financial and Professional Regulation; and be it
2 further
 
3     RESOLVED, That the Task Force take voluntary assistance and
4 testimony from legal and professional organizations and
5 institutions; and be it further
 
6     RESOLVED, That the members of the Task Force shall serve
7 without compensation, but may be reimbursed for actual expenses
8 incurred while serving on this Task Force from funds
9 appropriated to the Department of Financial and Professional
10 Regulation for that purpose; and be it further
 
11     RESOLVED, That the Task Force shall submit its final report
12 to the Governor and the General Assembly by December 31, 2009.