Bill Text: GA HB953 | 2011-2012 | Regular Session | Comm Sub
Bill Title: Funeral directors and cemeterians; allow electronic signatures for funeral services and related preneed contracts; modify provisions
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-02-23 - House Committee Favorably Reported [HB953 Detail]
Download: Georgia-2011-HB953-Comm_Sub.html
12 LC
35 2587S
The House Committee on Regulated Industries offers the following substitute to
HB 953:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Chapter 14 of Title 10 of the Official Code of Georgia Annotated, relating
to cemetery and funeral services, and Article 1 of Chapter 18 of Title 43 of
the Official Code of Georgia Annotated, relating to funeral directors and
establishments, embalmers, and crematories, so as to modify provisions relating
to funeral directors and cemeterians; to allow for electronic signatures for
funeral services and related preneed contracts; to clarify definitions relating
to funeral services; to clarify registration requirements for preneed dealers;
to provide for the oversight of funeral service preneed providers by the State
Board of Funeral Service; to provide for related matters; to provide an
effective date; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
I.
Funeral Services Generally.
Funeral Services Generally.
SECTION
1.
Chapter
14 of Title 10 of the Official Code of Georgia Annotated, relating to cemetery
and funeral services, is amended in Code Section 10-14-3, relating to
definitions applicable to cemetery and funeral services, by revising paragraphs
(12) and (17) and by adding a new paragraph to read as follows:
"(12)
'Cremation' includes any
mechanical,
chemical,
or
thermal, or
other professionally accepted process
whereby a deceased human being is reduced to ashes. Cremation also includes any
other
mechanical,
chemical,
or
thermal, or
other professionally accepted process
whereby human remains are pulverized, burned, recremated, or otherwise further
reduced in size or quantity."
"(16.1)
'Funeral director in full and continuous charge' means a funeral director who is
approved by the State Board of Funeral Service to assume full responsibility for
the operations of a particular funeral establishment and who shall ensure that
said establishment complies with this chapter and with all rules promulgated
pursuant thereto as provided in Chapter 18 of Title 43.
(17)
'Funeral service' means any service relating to the transportation, embalming,
cremation,
and interment of a deceased human being, as further described in
paragraphs
(10), (18), and (19) of Code Section
43-18-1."
SECTION
2.
Said
chapter is further amended by revising subsection (c) of Code Section 10-14-18,
relating to duties of registrant and written contract, as follows:
"(c)
The written contract shall be completed prior to the signing of the contract by
the customer and a copy of the contract shall be provided to the customer.
As used in
this subsection, the term 'signing' includes any manual, facsimile, conformed,
or electronic signature, and the term 'electronic signature' means an electronic
symbol or process attached to or logically associated with a document and
executed or adopted by a person with the intent to sign the
document."
SECTION
3.
Article
1 of Chapter 18 of Title 43 of the Official Code of Georgia Annotated, relating
to funeral directors and establishments, embalmers, and crematories, is amended
by revising paragraphs (5) and (10) of Code Section 43-18-1, relating to
definitions pertaining to funeral directors and establishments, embalmers, and
crematories, as follows:
"(5)
'Cremation' means the reduction of the dead human body to residue by intense
heat or any
mechanical, chemical, thermal, or other professionally accepted process.
Cremation also includes any other mechanical, chemical, thermal, or other
professionally accepted process whereby human remains are pulverized, burned,
recremated, or otherwise further reduced in size or
quantity."
"(10)
'Funeral' or 'funeral services' means the observances, services, or ceremonies
held for dead human bodies
and includes
any service relating to the transportation, embalming, cremation, and interment
of a dead human body."
SECTION
4.
Said
article is further amended by revising paragraph (19) of Code Section 43-18-46,
relating to grounds for denial or revocation of license or registration, and
other discipline, as follows:
"(19)
Promoting or participating in a
burial,
funeral, or cremation society,
burial,
funeral, or cremation association, burial
certificate plan,
or
burial membership
plan, or other
similar societies, plans, or
associations;"
SECTION
5.
Said
article is further amended by revising subsection (c) of Code Section 43-18-50,
relating to application for funeral service apprenticeship and period of
apprenticeship, as follows:
"(c)
The total period of apprenticeship shall be 3,120 hours and must be served in a
minimum of 18 months, but the minimum period shall be in addition to the time
required to graduate from a college of funeral service or other college pursuant
to paragraph (1) of subsection (b) of Code Section 43-18-41.
An apprentice
shall be authorized to earn apprenticeship hours in an amount to be determined
by the board while attending a postgraduate school or a program at an accredited
college of funeral service or other college approved by the
board."
II.
Regulation of Preneed Dealers.
Regulation of Preneed Dealers.
SECTION
6.
Chapter
14 of Title 10 of the Official Code of Georgia Annotated, relating to cemetery
and funeral services, is amended by revising paragraph (2) of Code Section
10-14-3, relating to definitions applicable to cemetery and funeral services, as
follows:
"(2)
'Board'
means
'Boards'
mean the State Board of Cemeterians as
described and authorized in Chapter 8B of Title 43
and the State
Board of Funeral Service as described and authorized in Chapter 18 of Title
43."
SECTION
7.
Said
chapter is further amended by revising Code Section 10-14-3.1, relating to the
authority of the State Board of Cemeterians, as follows:
"10-14-3.1.
The
board
boards
shall have all administrative powers and other powers necessary to carry out the
provisions of this chapter, including the authority to promulgate rules and
regulations, and the Secretary of State shall delegate to the
board
boards
all such duties otherwise entrusted to the Secretary of State; provided,
however, that the Secretary of State shall have
sole
authority over matters relating to the regulation of funds, trust funds, and
escrow accounts and accounting and investigations concerning such matters
but shall
delegate authority to the appropriate board for the review of such
investigations and the determination as to disciplinary matters, necessary
sanctions, and the enforcement of such decisions and sanctions. The State Board
of Funeral Service shall have authority to promulgate rules and regulations and
make disciplinary and sanctioning decisions relating to funeral services and
persons other than cemeterians who offer for sale or sell burial or funeral
merchandise. The State Board of Cemeterians shall have authority to promulgate
rules and regulations and make disciplinary and sanctioning decisions relating
to cemeteries and cemeterians. The Secretary of State shall delegate to each
board according to such duties and responsibilities of the
boards."
SECTION
8.
Said
chapter is further amended by revising paragraph (2) of subsection (b) of Code
Section 10-14-4, relating to registration of dealers and cemeteries, perpetual
care cemeteries trust funds, nonperpetual care cemeteries, and preneed escrow
accounts, as follows:
"(2)
Every person desiring to be a registered preneed
dealer, other
than a person already licensed by the Board of Funeral Service as a funeral
services director in full and continuous charge or an owner of a cemetery
licensed by the State Board of Cemeterians as a
cemeterian, shall file with the Secretary
of State a registration application in a form prescribed by the Secretary of
State, executed and duly verified under oath by the applicant, if the applicant
is an individual, or by an executive officer or general partner, if the
applicant is a corporation or partnership, or by an individual of similar
authority, if the applicant is some other entity, and containing the following
information:
(A)
The name of the applicant;
(B)
The location, mailing address, and telephone number of the applicant's principal
business location in Georgia and the same information for other locations where
business is conducted, together with any trade names associated with each
location;
(C)
All locations of the records of the applicant which relate to preneed sales in
Georgia;
(D)
If the applicant is not a natural person, the names of the president, secretary,
and registered agent if the applicant is a corporation, of each general partner
if the applicant is a partnership, or of individuals of similar authority, if
the applicant is some other entity and their respective addresses and telephone
numbers; the name and address of each person who owns 10 percent or more of any
class of ownership interest in the applicant and the percentage of such
interest; and the date of formation and the jurisdiction of organization of the
applicant;
(E)
A certified copy of a certificate of existence or certificate of authority
issued in accordance with Code Section 14-2-128 if the applicant is a
corporation;
(F)
A description of any judgment or pending litigation to which the applicant or
any affiliate of the applicant is a party and which involves the operation of
the applicant's preneed business in Georgia or which could materially affect the
business or assets of the applicant;
(G)
Whether the applicant or any affiliate of the applicant owns any other entities
in Georgia regulated by this chapter and, if so, the location, mailing address,
telephone number, and type of registration of such other entities;
(H)
A consent to service of process meeting the requirements of Code Section
10-14-24 for actions brought by the State of Georgia;
(I)
A list of each individual employed, appointed, or authorized by the applicant to
offer for sale or to sell any grave lots, burial rights, burial or funeral
merchandise, or burial services on behalf of the applicant;
(J)
A balance sheet of the applicant dated as of the end of the most recent fiscal
year and in no event dated more than 15 months prior to the date of filing,
which the Secretary of State shall treat as confidential and not open to public
inspection;
(K)
The name, address, location, and telephone number of the preneed escrow account
depository or depositories, the names of the accounts, and the account
numbers;
(L)
An executed copy of the escrow agreement required by Code Section
10-14-7;
(M)
The name, address, and telephone number of the escrow agent;
(N)
Such other information and documents as the Secretary of State may require by
rule; and
(O)
A filing fee of $250.00.
The
provisions of this chapter notwithstanding, a person already licensed by the
Board of Funeral Service as a funeral services director in full and continuous
charge or an owner of a cemetery licensed by the State Board of Cemeterians as a
cemeterian shall not be required to separately reregister as a preneed dealer;
such person shall be deemed registered by virtue of obtaining and maintaining
such license."
SECTION
9.
Said
chapter is further amended by revising Code Section 10-14-5, relating to preneed
sales agents, contracts, and retention of employee data, as
follows:
"10-14-5.
(a)
All individuals who offer preneed contracts to the public, or who execute
preneed contracts on behalf of any entity required to be registered as a preneed
dealer, and all individuals who offer, sell, or sign contracts for the preneed
sale of burial rights shall be registered with the Secretary of State as preneed
sales agents, pursuant to this Code section, unless such individuals are
exempted under this chapter or individually own a controlling interest in a
preneed dealer registered under this chapter.
For purposes
of this Code section, any person licensed by or registered with the Board of
Funeral Service as a funeral services director in full and continuous charge or
an owner of a cemetery licensed by the State Board of Cemeterians as a
cemeterian shall be deemed a registered preneed dealer by virtue of such
license.
(b)
All preneed sales agents must be employed by a registered preneed
dealer.
(c)
A preneed dealer shall be liable for the activities of all preneed sales agents
who are employed by the preneed dealer or who perform any type of preneed
related activity on behalf of the preneed dealer. If a preneed sales agent
violates any provision of this chapter, such preneed sales agent and each
preneed dealer who employs such preneed sales agent shall be subject to the
penalties and remedies set out in Code Sections 10-14-11, 10-14-19, 10-14-20,
and 10-14-21.
(d)
A preneed sales agent may be authorized to sell, offer, and execute preneed
contracts on behalf of all entities owned or operated by the agent's sponsoring
preneed dealer.
(e)
If the application for his or her registration is sent by certified mail, return
receipt requested,
or statutory
overnight delivery, an individual may
begin functioning as a preneed sales agent as soon as a completed application
for registration, as set forth in subsection (g) of this Code section, is
mailed
submitted
to the Secretary of State, provided that, if any such sales agent fails to meet
the qualifications set forth in this chapter, the preneed dealer shall
immediately upon notification by the Secretary of State cause such agent to
cease any sales activity on its behalf.
(f)
The qualifications for a preneed sales agent are as follows:
(1)
The applicant must be at least 18 years of age;
(2)
The applicant must not be subject to any order of the Secretary of State that
restricts his or her ability to be registered as a preneed sales agent;
and
(3)
The applicant must not have been adjudicated, civilly or criminally, to have
committed fraud or to have violated any law of any state involving fair trade or
business practices, have been convicted of a misdemeanor of which fraud is an
essential element or which involves any aspect of the funeral or cemetery
business, or have been convicted of a felony.
(g)
An application for registration as a preneed sales agent shall be submitted to
the Secretary of State with an application fee of $100.00 by the preneed dealer
on a form that has been designated by the Secretary of State and shall contain,
at a minimum, the following:
(1)
The name, address, social security number, and date of birth of the applicant
and such other information as the Secretary of State may reasonably require of
the applicant;
(2)
The name, address, and license number of the sponsoring preneed
dealer;
(3)
A representation, signed by the applicant, that the applicant meets the
requirements set forth in subsection (f) of this Code section;
(4)
A representation, signed by the preneed dealer, that the applicant is authorized
to offer, sell, and sign preneed contracts on behalf of the preneed dealer and
that the preneed dealer has informed the applicant of the requirements and
prohibitions of this chapter relating to preneed sales, the provisions of the
preneed dealer's preneed contract, and the nature of the merchandise, services,
or burial rights sold by the preneed dealer;
(5)
A statement indicating whether the applicant has any type of working
relationship with any other preneed dealer or insurance company;
and
(6)
A signed agreement by the applicant consenting to an investigation of his or her
background with regard to the matters set forth in this Code section, including,
without limitation, his or her criminal history.
(h)
An individual may be registered as a preneed sales agent on behalf of more than
one preneed dealer, provided that the individual has received the written
consent of all such preneed dealers.
(i)
A preneed dealer who has registered a preneed sales agent shall notify the
Secretary of State within three business days of a change in such individual's
status as a preneed sales agent with such preneed dealer or upon the occurrence
of any other event which would disqualify the individual as a preneed sales
agent.
(j)
Upon receipt and review of an application that complies with all of the
requirements of this Code section, the Secretary of State shall register the
applicant. The
department
Secretary of
State shall by rule provide for annual
renewal of registration and a renewal fee of $50.00.
(k)
Each cemetery registered under this chapter shall maintain in its files for a
period of five years a properly completed and executed application for
employment in a form prescribed by the Secretary of State for each employee,
officer, independent contractor, or other agent directly or indirectly involved
in cemetery or preneed sales or any person occupying a similar status or
performing similar functions. If a request is made, said forms shall be made
available for inspection by authorized representatives of the Secretary of
State."
SECTION
10.
Said
chapter is further amended by adding a new Code section to read as
follows:
"10-14-5.1.
Any
preneed insurance policy contract provided by a licensed insurance agent shall
not reference or state the name of any funeral service provider, funeral
director, or funeral establishment unless such contract is signed by the
director of such establishment so named in the agreement. Any preneed insurance
policy contract shall be signed by the insurance agent, consumer, and licensed
funeral director of the funeral establishment named in said agreement. When a
funeral establishment is named in a preneed insurance policy, the named funeral
establishment shall be designated the assignee of the insurance benefit
funds."
SECTION
11.
Said
chapter is further amended by revising Code Section 10-14-7, relating to preneed
escrow accounts, as follows:
"10-14-7.
(a)(1)
The provisions
of this Code section shall apply only to preneed dealers not governed by the
provisions of Code Section 10-14-7.1.
Each
such
preneed dealer which sells burial or funeral merchandise on a preneed basis or
preneed burial or funeral services shall establish and maintain a
trust or
a preneed escrow account.
(2)
With respect to each monument and outer burial container, and except as
otherwise provided in paragraph (3) of this subsection, the amount to be
deposited to said
trust
or escrow account shall be not less than
35 percent of the sales price of such monument or outer burial container; in no
event shall the amount deposited be less than 110 percent of the wholesale price
of such monument or outer burial container. For any other burial or funeral
merchandise, the amount to be deposited to said
trust
or escrow account shall be not less than
100 percent of the sales price of such merchandise; in no event shall the amount
deposited be less than 110 percent of the wholesale price of such merchandise.
If the contract of sale shall include grave spaces or items not deemed to be
burial or funeral merchandise, the portion of the sales price attributable to
the sale of the burial or funeral merchandise shall be determined, and it shall
only be as to such portion of the total contract as constitutes burial or
funeral merchandise that the deposit described in this paragraph shall be
required. In the event that the sale of burial or funeral merchandise is under
an installment contract, the required trust deposit shall be a pro rata part of
the principal portion of each installment payment, such deposit only being
required as payments are made by the purchaser for such burial or funeral
merchandise. In the event the installment contract is discounted or sold to a
third party, the seller shall be required to deposit an amount equal to the
undeposited portion of the required deposit of the sales price of such burial or
funeral merchandise at such time as if the contract were paid in
full.
(3)
With respect to a monument or outer burial container the itemized sales price of
which does not include the installation of such item, 100 percent of the
installation cost shall be deposited in the
trust
or escrow account.
(4)
With respect to cash advance items and the sale of preneed funeral or burial
services, the amount to be deposited to said
trust
or escrow account shall be 100 percent of
the sales price of such funeral or burial services or the full amount of a cash
advance item. The time and manner of deposit shall be the same as that
specified for deposit of burial or funeral merchandise sale funds to the escrow
account.
(b)
The deposit specified in paragraphs (2) and (3) of subsection (a) of this Code
section shall be made not later than 30 days following the last day of the month
in which any payment is received.
(c)(1)
The preneed
trust
or escrow account shall be established and
maintained in a state bank, state savings and loan institution, savings bank,
national bank, federal savings and loan association, whose deposits are insured
by the Federal Deposit Insurance Corporation or other governmental agency, or a
state or federally chartered credit union insured under 12 U.S.C. Section 1781
of the Federal Credit Union Act, or other organization approved by the Secretary
of State which is located and doing business in this state.
(2)
If the account is maintained with a trustee, the assets of the trust account
shall be invested and reinvested by the trust agent subject to all the terms,
conditions, limitations, and restrictions imposed by Georgia law upon executors
and trustees regarding the making and depositing of investments with trust
moneys pursuant to Code Sections 53-8-1 through 53-8-4 of the 'Pre-1998 Probate
Code,' if applicable, or Code Section 53-8-1 of the 'Revised Probate Code of
1998.' Subject to said terms, conditions, limitations, and restrictions, the
trust agent of the preneed accounts shall have full power to hold, purchase,
sell, assign, transfer, reinvest, and dispose of any of the securities and
investments in which any of the assets of said account are invested, including
proceeds of investments.
(d)(1)
Funds shall be released from the
trust
or escrow account when the burial or
funeral merchandise is delivered at the time of need or to the purchaser at the
purchaser's request or, in the case of a monument, attached to realty, or at
such times as described in the rules and regulations promulgated by the
Secretary of State, not exceeding the lesser of 30 days from receipt of
application for release or the time within which a preneed dealer is required by
law to provide a refund to a purchaser. A preneed dealer is prohibited from
requiring preneed delivery to the consumer as a condition of the sale. Outer
burial containers may not be delivered prior to need. Deposits made from funds
received in payment of preneed services shall remain in the
trust
or escrow account until such services are
performed, at which time said funds may be released to the preneed dealer. The
trustee may require certification by the preneed dealer of delivery of
merchandise or performance of services before release of funds.
(2)
The funds on deposit under the terms of this subsection shall be deemed and
regarded as
trust
or escrow funds pending delivery of the
burial or funeral merchandise concerned and said funds may not be pledged,
hypothecated, transferred, or in any manner encumbered by the
trust
or escrow agent nor may said funds be
offset or taken for the debts of the preneed dealer until such time as the
merchandise has been delivered or the services
performed;,
but after delivery of the burial or funeral merchandise concerned.
(e)
At any time, in the event that the preneed
trust
or escrow account contains an amount less
than the amount required by this Code section, the preneed dealer shall, within
15 days after the earlier of becoming aware of such fact or having been so
notified by the Secretary of State, deposit into the preneed account an amount
equal to such shortfall. In the event that the Secretary of State and the
preneed dealer disagree regarding the amount of such shortfall, no penalty shall
be imposed upon the preneed dealer for any failure to comply with this provision
unless such failure occurs after notice and opportunity for a hearing as
provided in Code Section 10-14-23.
(e.1)(f)
In the case of release of
trust
or escrowed funds to a purchaser at the
purchaser's request pursuant to paragraph (1) of subsection (d) of this Code
section, a sum not less than the lesser of 10 percent of the escrowed amount or
one-half of the interest earned upon such funds as of the date of release, as
provided by the Secretary of State by rule or regulation, may be retained by the
preneed dealer as
an
administrative
fee for
reimbursement of the preneed dealer for
costs.
(f)(g)
Upon a finding by a court of competent jurisdiction of failure to deposit or
maintain funds in the preneed
trust
or escrow account as required by this
chapter or of fraud, theft, or other misconduct by the preneed dealer or the
officers or directors of the preneed dealer which has wasted or depleted such
funds, the preneed dealer or the officers or directors of the preneed dealer may
be held jointly and severally liable for any deficiencies in the preneed
trust
or escrow account."
SECTION
12.
Said
chapter is further amended by adding a new Code section to read as
follows:
"10-14-7.1.
(a)
Notwithstanding any provision to the contrary contained in Chapter 1 of Title 7,
the 'Financial Institutions Code of Georgia,' or in any other provision of law,
a funeral establishment or a funeral director in full and continuous charge or
his or her agent, representative, or employee may provide for funds to be
deposited with a depository institution in accordance with this Code section and
placed in an individual trust fund account that is:
(1)
Titled in the name of a funeral establishment;
(2)
Established for the purpose of providing preneed funeral services;
(3)
Payable upon the death of the purchaser in favor of a funeral establishment for
purposes of providing funeral services; and
(4)
Refundable to the purchaser's designee or the estate of the deceased, such that
100 percent of the trust funds following a deduction of any amounts paid or
owing as taxes and a 3 percent charge for administrative costs shall be returned
to the designee or estate where funeral services are not provided by the funeral
establishment.
(b)(1)
One hundred percent of funds to be held in trust shall be deposited in the trust
account. The deposit of such funds shall be made not later than 30 days
following the last day of the month in which any payment is received. Trust
fund accounts shall be established and maintained in a state bank, state savings
and loan institution, savings bank, national bank, federal savings and loan
association, whose deposits are insured by the Federal Deposit Insurance
Corporation or other governmental agency, or a state or federally chartered
credit union insured under 12 U.S.C. Section 1781 of the Federal Credit Union
Act, or other organization approved by the Secretary of State which is located
and doing business in this state.
(2)(A)
If the account is maintained with a trustee, the assets of the trust account
shall be invested and reinvested by the trust agent subject to all the terms,
conditions, limitations, and restrictions imposed by Georgia law upon executors
and trustees regarding the making and depositing of investments with trust
moneys and subject to the limitations and restrictions imposed pursuant to this
Code section.
(B)
Subject to said terms, conditions, limitations, and restrictions, the trust
agent of the a preneed account shall have full power to hold, purchase, sell,
assign, transfer, reinvest, and dispose of any of the securities and investments
in which any of the assets of said account are invested, including proceeds of
investments. Unless otherwise expressly provided in the will, a personal
representative shall be authorized to invest funds in:
(i)
Interest-bearing deposits in any chartered state or national bank or trust
company or savings and loan association located in this state to the extent the
deposits are insured by the Federal Deposit Insurance Corporation or comparable
insurance; and
(ii)
Direct and general obligations of the United States government, obligations
unconditionally guaranteed by the United States government, and obligations of
the agencies of the United States government enumerated in Code Section 53-8-3.
The personal representative may invest in and hold such obligations either
directly or in the form of securities or other interests in any open-end or
closed-end management type investment company or investment trust registered
under the Investment Company Act of 1940, as now or hereafter amended, so long
as:
(I)
The portfolio of such investment company or investment trust is limited to such
obligations and repurchase agreements fully collateralized by such
obligations;
(II)
Such investment company or investment trust takes delivery of such collateral
either directly or through an authorized custodian; and
(III)
Such investment company or investment trust is operated so as to provide a
constant net asset value or price per share.
(C)
In making any other investments and in acquiring and retaining those investments
and managing the property of the estate, the personal representative shall
exercise the judgment and care, under the circumstances then prevailing, which
persons of prudence, discretion, and intelligence exercise in the management of
their own affairs, not in regard to speculation but in regard to the permanent
disposition of their funds, considering the probable income as well as the
probable safety of their capital.
(3)
In the event that the sale of burial or funeral merchandise is under an
installment contract, the required trust deposit shall be a pro rata part of the
principal portion of each installment payment, such deposit only being required
as payments are made by the purchaser for such burial or funeral
merchandise.
(c)
Any person holding money in trust pursuant to this Code section shall first be
required to register with the Secretary of State and pay an annual registration
fee of $100.00 for the reimbursement of the office for administrative costs.
The Secretary of State shall establish rules and regulations for investments of
trust funds as necessary to preserve the corpus and income of such a fund and
for determining what restrictions are necessary for such purposes.
(d)
Upon a finding by a court of competent jurisdiction of failure to deposit or
maintain funds in the trust account as required by this Code section or of
fraud, theft, or misconduct by a funeral establishment or a funeral director or
his or her employee, representative, or agent which has wasted or depleted such
funds, the funeral establishment owners, funeral director, or employee,
representative, or agent of a funeral director or establishment may be held
jointly and severally liable for any deficiencies in the trust
account.
(e)
Any other provision of law notwithstanding, a trust fund account established and
maintained under this Code section and the moneys contained therein shall not be
deemed an asset or income for purposes of recapture of income or funds owed or
for any other purpose.
(f)
Nothing contained herein shall preclude a licensed funeral director in full and
continuous charge from maintaining an escrow account with aggregate escrow funds
for 100 percent of any preneed contract amount for purposes of passing through
funds within 60 days to a trust fund account or payment of a policy of insurance
for preneed services."
III.
Effective date and repealer.
Effective date and repealer.
SECTION
13.
This
Act shall become effective on July 1, 2012.
SECTION
14.
All
laws and parts of laws in conflict with this Act are repealed.
