CEMETERY ENDOWMENT FUNDS
Senate Bill 37 with committee amendment
Senate Bill 38 as passed by the Senate
Senate Bill 39 as passed by the Senate
Sponsor: Sen. Gilda Z. Jacobs
Addendum to SFA Analysis (5-21-03)
Senate Committee: Local, Urban and State Affairs
House Committee: Regulatory Reform
ADDENDUM TO SENATE FISCAL AGENCY ANALYSIS OF SB 37-39 DATED 5-15-03:
HOUSE COMMITTEE ACTION:
The committee adopted an amendment to Senate Bill 37 to specify that it would be the responsibility of each registrant (cemetery) that has established a merchandise trust account to assure that documents relating to the account were provided to the commissioner (the director of the Department of Consumer and Industry Services) upon request. If a subpoena were issued to obtain those documents, the registrant would have to pay all costs related to obtaining the documents regardless of the $100 charge limitation contained in Section 12a of the Cemetery Regulation Act.
[The Senate Fiscal Agency analysis of the bills dated 5-15-03 is available on the Michigan Legislature web site.]
POSITIONS:
The Michigan Cemetery Association supports the bills. (5-20-03)
Forethought, a financial services company providing insurance and trust services, supports the bill. (5-20-03)
_____________________________________________________________________________________________________________________
This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.