96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB2003


 
Introduced 2/20/2009, by Sen. Pamela J. Althoff
 
SYNOPSIS AS INTRODUCED:
 		














225 ILCS 45/1
  from Ch. 111 1/2, par. 73.101







    Amends the Illinois Funeral or Burial Funds Act. Makes a technical change in a Section concerning payment under a pre-need contract.
















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A BILL FOR









 











SB2003

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    AN ACT concerning regulation.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Illinois Funeral or Burial Funds Act is 
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amended  by changing Section 1 as follows:
 



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    (225 ILCS 45/1)  (from Ch. 111 1/2, par. 73.101)



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    Sec. 1. Payment under pre-need contract. Except as as 
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otherwise provided in
this Section, all sales proceeds
paid to 
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any person, partnership, association
or corporation with 
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respect to merchandise or services covered by this Act,
upon 
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any agreement or contract, or any series or combination
of 
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agreements or contracts, which has for a purpose the furnishing 
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or
performance of funeral services, or the furnishing or 
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delivery of any
personal property, merchandise, or services of 
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any nature in connection
with the final disposition of a dead 
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human body, including, but not
limited to, outer burial 
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containers, urns, combination casket-vault units,
caskets and 
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clothing, for future use at a time determinable by the death of 
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the
person or persons whose body or bodies are to be so 
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disposed of, shall be held
to be trust funds, and shall be 
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placed in trust in accordance with Sections 1b
and 2, or shall 
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be used to purchase life insurance or annuities in accordance

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with Section 2a. The person, partnership, association or 
 


 






SB2003
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corporation receiving
said payments under a pre-need contract 
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is hereby declared to be a trustee
thereof until deposits of 
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funds are made in accordance with Section 1b or 2a of
this Act.  
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Persons holding less than $500,000 in trust funds may continue 
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to
act as the trustee after the funds are deposited in 
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accordance with subsection
(d) of Section 1b.

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    Nothing in this Act shall be construed to prohibit the 
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inclusion of outer
burial containers in sales contracts under 
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the Illinois Pre-Need Cemetery Sales
Act.

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(Source: P.A. 91-7, eff. 1-1-2000.)