General Assembly Substitute Bill No. 1020
January Session, 2015 *_____SB01020GL_APP031315____*
General Assembly
Substitute Bill No. 1020
January Session, 2015
*_____SB01020GL_APP031315____*
AN ACT CONCERNING FUNERAL SERVICE CONTRACTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section. 1. Section 42-207 of the general statutes is repealed and the following is substituted in lieu thereof (Effective July 1, 2015):
An irrevocable funeral service contract may be entered into in which the amount held in escrow or a death benefit payable under an individual or group life insurance policy may be disbursed only upon the death of the beneficiary, provided such a contract does not exceed [five thousand four hundred] eight thousand dollars and all interest, growth or dividends accumulates to the escrow account or insurance policy and are inaccessible to the beneficiary. Such irrevocable funeral service [contracts] contract may be transferred from one funeral service establishment to another upon request of the beneficiary or a legal representative of the beneficiary. The purchase of an irrevocable funeral service contract shall not preclude an individual from purchasing other funeral service contracts that are revocable, provided any such revocable funeral service contract purchased by a Medicaid beneficiary may be revoked only upon written notice by the Medicaid beneficiary to the Commissioner of Social Services.
This act shall take effect as follows and shall amend the following sections:
Section July 1, 2015 Section. 1. 42-207
This act shall take effect as follows and shall amend the following sections:
Section
July 1, 2015
Section. 1. 42-207
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