PRENEED FUNERAL CONTRACTS
On July 1, 2006, the regulation of Preneed Funeral Contracts was transferred to the Department. The law requires that a funeral home be licensed to sell Preneed Funeral Contracts. All monies received for a Preneed Funeral Contract must be deposited into a trust account or burial insurance policy. Each Preneed Funeral Contract must be submitted to the Department accompanied by a $20 filing fee, part of which goes into the loss reimbursement fund.
There is an Initial/New Preneed Funeral Contracts Licensing fee of $250 and a renewal fee of $200. The Preneed Funeral Contracts License must be renewed by September 30th of every odd-numbered year.
In the 2012 session, the General Assembly amended the Preneed Funeral Contract Law.
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