AZ HB2160

Amends A.R.S. § 32-1391.05 to create two different deposit timelines for prearranged funeral trust monies based on agreement type.

Fixed price prearranged funeral agreements funded by trust must have deposits made within thirty business days (instead of five business days) and allows trustees to invest using prudent investor standard judgment.

Non-fixed price prearranged funeral agreements continue to require deposits within five business days with investment limits restricted to federally insured accounts or direct U.S. government obligations with three-year maximum maturity.

Adds definition of "prudent investor" as a person exercising ordinary prudence and diligence in managing others' property with consideration for both probable income and capital safety.

Maintains existing protections that trust monies remain beneficiary property, cannot be withdrawn or commingled by funeral establishments, and are protected from creditor claims up to $5,000.