KY SB226

Authorizes agents who guarantee prices and full performance on preneed burial contracts to collect an administrative fee up to 15% of the total contract amount

Administrative fee may only be collected once per contract (even if transferred to a successor entity) and only after all installment payments are complete

Refund provisions amended so that purchasers requesting cancellation receive full refund of amounts paid plus interest, excluding the administrative fee on fully paid contracts

Requires agents to prove death before trust funds are released by providing verified death record from the Vital Statistics Branch or provisional death certificate

Applies only to preneed burial contracts entered into on or after the effective date of the Act