HI SB2285

Requires 100 percent of funds paid by purchasers to be transferred to a trustee for pre-need funeral plans, with principal and interest remaining the property of the purchaser.

Allows cemeteries or pre-need funeral authorities to retain only amounts necessary for sales tax, licensing fees, trustee fees, trust administration expenses, and cancellation fees, not to exceed 30 percent of the contract price.

Requires trustees to provide purchasers with confirmation notices within 30 days of deposit and annual written statements showing total funds deposited, deposit location, and interest earned.

Entitles purchasers to refunds of amounts paid plus interest earned upon contract cancellation or termination, minus any allowable deductions, within 30 days of written notice.

Takes effect July 1, 2010.