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MT SB305
Bill
AI Summary
- Amends Section 37-19-828, MCA to require funeral trust fund deposits and investments to comply with the prudent investor rule (Title 72, chapter 38, part 9) instead of the previous requirement that they be insured by a federal government instrumentality
- Prohibits waiver of the prudent investor rule for funeral trust funds
- Retains existing requirements that funeral service providers deposit funds within 10 business days in a banking institution, savings and loan association, or credit union with an office in Montana
- Maintains requirement that deposits constitute a trust fund for the benefit of the person contracting for prearranged funeral services, held in a separate account
Legislative Description
Revise funeral trust laws
Estates and Trusts
Last Action
Chapter Number Assigned
4/18/2025
Committee Referrals
Business & Labor2/28/2025
Business, Labor and Economic Affairs2/12/2025
Full Bill Text
No bill text available