ORIGINAL HOUSE
BILL NO. HB0181
ENROLLED ACT NO. 27, HOUSE OF REPRESENTATIVES
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
1
AN ACT relating to insurance; amending investment
authorization for prepaid or prearranged funeral contract
proceeds; amending related surety bond provisions;
specifying application of purchase monies and investment
earnings; requiring notice to contract purchasers; and
providing for effective dates.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1. W.S. 26-32-101(a) and (b) is amended to
read:
26-32-101. Supervision and audit of funds; approval
of investment; promulgation of rules and regulations;
licenses.
(a) The department shall supervise and audit the
funds derived by any person either residing in or doing
business within the state, from prepaid or prearranged
funeral contracts providing for the sale of caskets, burial
vaults, monuments or memorials or any burial supplies and
equipment and funeral services, if the sale is made, either
outright or on the installment basis, prior to the demise
of the person purchasing them or for whom they are
purchased, with the merchandise or service, or both, to be
delivered at a future date at time of need. All funds
received from these contracts or arrangements by any person
either residing in or doing business within this state
shall be received, invested and withdrawn according to
requirements the department approves. Investment in a bank,
trust company or federal and loan
association in Wyoming is an approved investment.
deposit of funds received from the sale of these contracts
or arrangements in irrevocable pre-need funeral trusts, the
funds of which are invested in compliance with W.S. ORIGINAL HOUSE
BILL NO. HB0181
ENROLLED ACT NO. 27, HOUSE OF REPRESENTATIVES
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
2
4-10-901 and 4-10-902, is an approved investment. Earnings,
including interest, income and dividends, from any
investment of an irrevocable pre-need funeral trust may
inure to the benefit of the seller of the prepaid or
prearranged funeral contract, but shall be withdrawn from
the irrevocable trust only upon the occurrence of an event
that requires withdrawal of the corpus of the trust.
Neither the person purchasing a prepaid or prearranged
funeral contract nor any person for whom the contract is
purchased shall be entitled to terminate or cancel the
contract or make demand for the funds paid for the contract
after the funds are deposited into an irrevocable pre-need
funeral trust.
(b) The commissioner shall promulgate rules and
regulations for the purposes specified in subsection (a) of
this section to include regulation of contract provisions
and funds thereunder.
buyers of prepaid or prearranged funeral contracts of the
types of investments into which funds derived from the sale
of these contracts may be deposited and the risks
associated with those investments. The rules shall require
notice to buyers of the ability to cancel or terminate a
contract or make demand for any amounts paid for the
contract. Rules promulgated by the commissioner shall not
require any additional surety bond amount for those monies
deposited in an irrevocable pre-need funeral trust and
invested in compliance with W.S 4-10-902 beyond the minimum
surety bond required of all persons deriving funds from
prepaid or prearranged funeral contracts.
Section 2. This act shall not alter, amend or impair
contracts entered into before July 1, 2025. ORIGINAL HOUSE
BILL NO. HB0181
ENROLLED ACT NO. 27, HOUSE OF REPRESENTATIVES
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
3Section 3. The department of insurance shall
promulgate all rules necessary to implement the provisions
of this act. ORIGINAL HOUSE
BILL NO. HB0181
ENROLLED ACT NO. 27, HOUSE OF REPRESENTATIVES
SIXTY-EIGHTH LEGISLATURE OF THE STATE OF WYOMING
2025 GENERAL SESSION
4Section 4.
(a) Except as provided by subsection (b) of this
section, this act is effective July 1, 2025.
(b) Sections 3 and 4 of this act are effective
immediately upon completion of all acts necessary for a
bill to become law as provided by Article 4, Section 8 of
the Wyoming Constitution.
(END)
Speaker of the HousePresident of the SenateGovernorTIME APPROVED: _________DATE APPROVED: _________
I hereby certify that this act originated in the House.
Chief Clerk