House Journal: Page 1321: Monday, April 23, 2001
Hoffman of Crawford offered amendment H-1448 filed by the
committee on commerce and regulation as follows:
H-1448
1 Amend Senate File 473, as passed by the Senate, as
2 follows:
3 1. Page 7, by inserting after line 4, the
4 following:
5 "SUBCHAPTER 1
6 SHORT TITLE AND DEFINITIONS
7 Sec. . NEW SECTION. 523A.101 SHORT TITLE.
8 This chapter may be cited as the "Iowa Cemetery and
9 Funeral Merchandise and Funeral Services Act".
10 Sec. . NEW SECTION. 523A.102 DEFINITIONS.
11 For purposes of this chapter, unless the context
12 otherwise requires:
13 1. "Authorized to do business within this state"
14 means a person licensed, registered, or subject to
15 regulation by an agency of the state of Iowa or who
16 has filed a consent to service of process with the
17 commissioner for purposes of this chapter.
18 2. "Beneficiary" means any natural person
19 specified or included in a purchase agreement, upon
20 whose future death cemetery merchandise, funeral
21 merchandise, funeral services, or a combination
22 thereof are to be provided under the purchase
23 agreement.
24 3. "Burial account" means an account established
25 by a person with a financial institution for the
26 purpose of funding the future purchase of cemetery
27 merchandise, funeral merchandise, or a combination
28 thereof without any related trust agreement.
29 4. "Burial trust fund" means an irrevocable burial
30 trust fund established by a person with a financial
31 institution for the purpose of funding the future
32 purchase of cemetery merchandise, funeral merchandise,
33 funeral services, or a combination thereof upon the
34 death of the person named in the burial trust fund's
35 records or a related purchase agreement. "Burial
36 trust fund" does not include or imply the existence of
37 any oral or written purchase agreement for cemetery
38 merchandise, funeral merchandise, funeral services, or
39 a combination thereof between the person and a seller.
40 5. "Cemetery merchandise" means foundations, grave
41 markers, tombstones, ornamental merchandise,
42 memorials, and monuments sold under a purchase
43 agreement that does not require installation within
44 twelve months of the purchase.
45 6. "Commissioner" means the commissioner of
46 insurance or the deputy administrator authorized in
© 2001 Cornell College and
League of Women Voters of Iowa
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