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IA SSB3058
SB
AI Summary
- Amends Iowa Code to modify regulations for preneed sellers (businesses that sell funeral and cemetery services/merchandise in advance of need) and their sales agents
- Requires sales license applicants to be designated by at least one preneed seller before licensure, with documentation filed with the Insurance Commissioner
- Mandates preneed sellers disclose any changes to sales agent designations within 30 calendar days
- Allows sellers to withdraw up to 50% of annual trust fund interest/income that exceeds the inflation adjustment amount based on the Consumer Price Index
- Modifies examination requirements so the Commissioner may conduct examinations of sellers as often as deemed appropriate, rather than requiring examinations at least every five years for sellers with trust arrangements
Legislative Description
A bill for an act relating to preneed sellers, sales agents and sales agent applicants, and government cemeteries.(See SF 2148.)
Last Action
Committee report approving bill, renumbered as SF 2148.
1/28/2026
Committee Referrals
Commerce1/21/2026
Full Bill Text
No bill text available