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IA HSB600
SB
Status
Introduced
1/21/2026
Primary Sponsor
Commerce
Click for details
AI Summary
- Amends regulations for preneed sellers with trust arrangements, allowing the Insurance Commissioner to require certified audits by independent CPAs to verify compliance instead of mandatory examinations every five years
- Modifies rules on trust fund interest/income withdrawals, permitting sellers to withdraw amounts representing the difference between inflation adjustments (based on Consumer Price Index) and up to 50% of total interest earned annually
- Requires sales license applicants to be designated by at least one preneed seller before license issuance, with preneed sellers filing documentation of the designation and disclosing any changes within 30 calendar days
- Clarifies that preneed seller licensees are liable for their sales agents' actions in advertising, selling, promoting, or offering to furnish cemetery merchandise, funeral merchandise, or funeral services
- Strikes subsection 7 of Section 523A.102 and adds confidentiality protections for information filed with the Insurance Commissioner under multiple sections of Chapter 523A
Legislative Description
A bill for an act relating to preneed sellers, sales agents and sales agent applicants, and government cemeteries.(See HF 2634.)
Last Action
Committee report approving bill, renumbered as HF 2634.
2/19/2026
Committee Referrals
Commerce1/21/2026
Full Bill Text
No bill text available