Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB546

Introduced

2/6/23

Refer

2/7/23

Report Pass

2/14/23

Caption

Cemetery Merchandise Trust Act; modifying application procedures for permit holders. Effective date.

Impact

If passed, SB546 would significantly alter the regulatory landscape surrounding cemetery merchandise sales in Oklahoma. By mandating electronic submissions and updating various reporting requirements, the bill aims to enhance the efficiency and accountability of organizations engaged in these transactions. It also establishes clearer penalties for non-compliance, including potential misdemeanor charges for officers failing to file mandatory reports, potentially increasing the overall compliance with the act.

Summary

Senate Bill 546, also known as the Cemetery Merchandise Trust Act, seeks to amend and modernize existing regulations concerning cemetery merchandise. The bill introduces electronic submission requirements for permit applications, renewal fees, and annual reporting to streamline operations for organizations that accept money for prepaid cemetery services. It also outlines procedures for the issuance and renewal of permits by the Insurance Commissioner, emphasizing compliance with the act's provisions.

Sentiment

The sentiment around SB546 appears largely supportive among committee members, favoring modernization and greater regulatory oversight of cemetery merchandise transactions. However, there are concerns voiced by some stakeholders over the potentially heavy burden of electronic reporting and associated fees on smaller organizations. The balance between regulatory oversight and operational flexibility for these organizations remains a point for ongoing discussion.

Contention

Key points of contention in discussions surrounding SB546 include the implications of electronic filing on organizations lacking technological resources. Additionally, the requirement for a surety bond as an alternative to trust fund requirements has raised questions regarding the impact on businesses in terms of costs and financial viability. Ensuring that the bill offers protections for consumers while not overburdening providers is a central theme in the legislative debate.

Latest SB546 Activity

Companion Bills

OK SB546

Carry Over Cemetery Merchandise Trust Act; modifying application procedures for permit holders. Effective date.

Similar Bills

OK SB546

Cemetery Merchandise Trust Act; modifying application procedures for permit holders. Effective date.

OK HB3007

Insurance; Cemetery Merchandise Trust Act; definitions; minimum funding requirement; effective date.

OK SB128

Cemetery Merchandise Trust Act; modifying definitions. Effective date.

OK SB128

Cemetery Merchandise Trust Act; modifying definitions. Effective date.

AL HB47

Funeral Service Board, licensing and regulation of cemetery authorities and cemeteries, Alabama Preneed Funeral and Cemetery Act, established, adding, amending and renumbering numerous sections, Secs. 27-17A-2, 27-17A-17, 27-17A-45, 27-17A-57 repealed; Secs. 34-13-1, 34-13-2, 34-13-4, 34-13-7, 34-13-9, 34-13-11, 34-13-12, 34-13-20, 34-13-22, 34-13-23, 34-13-26, 34-13-27, 34-13-52, 34-13-53, 34-13-54, 34-13-55, 34-13-56, 34-13-56.1, 34-13-111, 34-13-113 am'd.

OK HB2629

Insurance; Cemetery Merchandise Trust Act; definitions; minimum funding requirement; effective date.

OK HB2629

Insurance; Cemetery Merchandise Trust Act; definitions; minimum funding requirement; effective date.

AL SB131

Relating to the Alabama Board of Funeral Service; to amend Section 34-13-1, as amended by Act 2022-339, 2022 Regular Session, Sections 34-13-20, 34-13-21, and 34-13-22, Sections 34-13-23 and 34-13-27, as amended by Act 2022-339, 2022 Regular Session, Code of Alabama 1975, to rename the Alabama Board of Funeral Service as the Alabama Board of Funeral Services and to provide further for definitions and the membership of the board; to add Article 5 to Chapter 13, Title 34, Code of Alabama 1975, by amending and renumbering Sections 27-17A-1, 27-17A-3, 27-17A-4, 27-17A-10 to 27-17A-25, inclusive, 27-17A-30 to 27-17A-34, inclusive, and 27-17A-40 to 27-17A-57, inclusive, as Sections 34-13-170 to 34-13-172, inclusive, 34-13-190 to 34-13-206, inclusive, 34-13-230 to 34-13-234, inclusive, and 34-13-260 to 34-13-277, inclusive, Code of Alabama 1975; to establish the Alabama Preneed Funeral and Cemetery Act of 2023; to transfer the existing Preneed Funeral and Cemetery Act, and the regulation of preneed contracts, from the Commissioner and Department of Insurance to the Alabama Board of Funeral Service; to authorize the Department of Insurance to temporarily transfer certain funds to the board to defray costs associated with the administration and operation of the Alabama Preneed Funeral and Cemetery Act of 2023; and in connection therewith would have as its purpose or effect the requirement of a new or increased expenditure of local funds within the meaning of Section 111.05 of the Constitution of Alabama of 2022.