A bill to amend title 18 or the United States Code to require that whenever mortuaries or morticians offer preneed burial plans and deposit funds obtained from the sale of such plans in federally insured depository institutions that such deposits be placed in special trust accounts to assure that the funds are only disbursed from such accounts to carry out the plans.

Summary

Prohibits any mortuary or mortician from offering a pre-need burial plan and depositing the proceeds derived from such a plan in a federally insured depository institution unless: (1) such proceeds are deposited in a special trust account in such depository institution from which all or part of such proceeds may be released by the depository institution upon presentation by the mortuary or mortician of a copy of the pre-need burial agreement and proof of death of the purchaser of the pre-need burial plan or presentation by the mortuary or mortician of a written statement, signed by the purchaser of the plan, which authorizes the release of a sum certain for the purchase of a burial plot; and (2) the mortuary or mortician submits to the depository institution a copy of the pre-need burial agreement. Provides criminal penalties for violations of this Act. (Adds 18 U.S.C. 1028)

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1 official file

• Introduced in House

  summary · EN · 2 June 1975

  Open at official source

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