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.".