There has been a new law passed in the Illinois Funeral Directors Mess. The bill was sponsored by the Comptroller. Last week it passed the legislature is slated to become law. The law is in the legislature was known as Senate Bill 1682.
All this was revealed in a Office of the Comptroller press release.
“The Senate approved the measure 58-0 sending it to the Governor. The House approved the legislation earlier in the week.
Hynes said the legislation (SB1682) is needed to help prevent shortfalls similar to the one that occurred with a trust fund intended to pay for consumer funerals that was used by hundreds of funeral directors and administered by the Illinois Funeral Directors Association. It modernizes and strengthens oversight of consumer funds and increases the amount of information consumers receive about their investments.
Your Funeral Guy says that this is only the first step. Requiring the Funeral directors to put 95% of the folks money in a safe place (where is that?) will help preneed purchasers in the state. It also overall makes funeral directors in the state quite angry.
Funerals directors in the state are quite upset about the agreement that the State of Illinois, reached with Merrill Lynch opposing the agreement the comptroller and other regulators came up with. They have vowed to fight the regulators. How can that be done?
How on God’s earth will they fight the regulators? Will they simply by marked men as is often the case of those who oppose STATE of ILLINOIS politicians?
The Illinois Funeral Directors Association(IFDA) dropped their funeral bomb and funerals in Illinois will take years to recover. They may have caused increases in traditional funeral cost to happen for years to come.
Funeral Industry|Funeral blog by Your Funeral Guy.