PRE-NEED BURIAL CONTRACTS

Amends the Illinois Funeral or Burial Funds Act. Defines "agent". Requires that pre-need contracts include the telephone number for the principal office of the seller and the parent company of the seller, if any. Requires that a pre-need contract is ratified within 10 business days by a licensed funeral director who is employed by the licensed funeral home firm responsible for providing the funeral goods and services. If the pre-need contract is funded by a trust, requires the seller or seller's agent to deposit the funds into the trust within 10 business days after execution of the contract. Requires the contract to state that the seller is responsible and liable for the competency and veracity of the agent. Provides that an agent acting on behalf of a seller must be properly authorized to do so. Requires an agent to provide to the purchaser a written statement containing: (i) the capacity of the agent to act and whether the agent is acting for the seller as an agent; and (ii) notice that the seller is the only person or entity authorized to provide the services or merchandise called for by the contract. Provides that a seller may not be an affiliate, a parent company, or subsidiary organization of the trustee acting as a fiduciary of a trust to hold consideration paid for services or merchandise subject to a pre-need contract by the seller or seller's agent and a purchaser. Effective immediately.