Text: SF00054 Text: SF00056 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 523A.8, Code 2001, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 5. In addition to the requirements of
1 4 subsection 1, paragraph "a", a funeral establishment or
1 5 cremation establishment as defined in section 156.1 shall
1 6 disclose ownership information and the establishment's permit
1 7 number issued pursuant to section 523A.9 on all business
1 8 literature, correspondence, and contracts. Within fifteen
1 9 days of a change in ownership of a funeral establishment or
1 10 cremation establishment which has entered into an agreement
1 11 under section 523A.1 for the provision of funeral merchandise
1 12 or funeral services, the seller shall notify all purchasers of
1 13 funeral merchandise or funeral services by first class mail of
1 14 the change in ownership. The notification shall identify the
1 15 name and establishment permit number of the individual or
1 16 entity to whom ownership of the establishment has been
1 17 transferred, and shall advise the purchaser of funeral
1 18 merchandise or funeral services of the purchaser's right to
1 19 either transfer or receive a total refund of trust funds
1 20 deposited or insurance premiums paid pursuant to this chapter,
1 21 including interest or income thereon. For purposes of this
1 22 subsection, a "change of ownership" means the sale or transfer
1 23 of all or substantially all of the assets of, or a controlling
1 24 interest in, a funeral establishment or cremation
1 25 establishment, or the termination of business of a funeral
1 26 establishment or cremation establishment where there is not a
1 27 transfer of assets or a controlling interest.
1 28 EXPLANATION
1 29 This bill relates to the disclosure of ownership of a
1 30 funeral or cremation establishment. The bill provides that a
1 31 funeral or cremation establishment as defined in Code section
1 32 156.1 shall disclose ownership information and an
1 33 establishment permit number on all business literature,
1 34 correspondence, and contracts. The bill also provides that
1 35 within 15 days of a change in ownership, a funeral or
2 1 cremation establishment which has entered into an agreement
2 2 for the provision of funeral merchandise or funeral services
2 3 shall notify all purchasers of the merchandise or services by
2 4 first class mail of the change in ownership. The bill
2 5 provides that the notification shall identify the name and
2 6 establishment permit number of the individual or entity to
2 7 whom ownership of the establishment has been transferred, and
2 8 shall advise the purchaser of the merchandise or services of
2 9 the purchaser's right to either transfer or receive a total
2 10 refund of prepaid trust funds or insurance premiums, including
2 11 interest or income thereon. The bill provides that a "change
2 12 of ownership" means the sale or transfer of all or
2 13 substantially all of the assets of a funeral or cremation
2 14 establishment, the sale or transfer of a controlling interest
2 15 of a funeral or cremation establishment, or the termination of
2 16 business of a funeral or cremation establishment where there
2 17 is not a transfer of assets or a controlling interest.
2 18 LSB 1007XS 79
2 19 rn/pj/5
Text: SF00054 Text: SF00056 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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