Montana legislation · 2025 Regular Session
Montana SB305: Revise funeral trust laws
Status: Signed into law, April 18, 2025
What the bill says
An act generally revising funeral trust laws; requiring funeral trust funds to comply with the prudent investor rule; and amending section 37-19-828, mca.
From the engrossed text:
AN ACT GENERALLY REVISING FUNERAL TRUST LAWS; REQUIRING FUNERAL TRUST FUNDS TO COMPLY WITH THE PRUDENT INVESTOR RULE; AND AMENDING SECTION 37-19-828, MCA. Section 1. Section 37-19-828, MCA, is amended to read: "37-19-828. Funeral trust fund -- deposit of money. (1) (a) A party that provides services pursuant to a contract for a prearranged funeral or related services and that receives money under the contract shall deposit the money within 10 business days of receipt in a banking institution or invest the money in the stock of a savings or building and loan association or in the shares of a credit union. (b) The banking institution, savings or building and loan association, or credit union shall maintain an office in this state and must be organized under the laws of this state, of another state, or of the United States. (c) Deposits or investments made as provided in this section must be insured by an instrumentality of the federal government must comply with the prudent investor rule provided for in Title 72, chapter 38, part 9. The rule may not be waived. (2) Deposits or investments made pursuant to this section constitute a trust fund for the benefit of the person contracting for the prearranged funeral or related services. The money must be placed in a separate account in the …
Sponsors
- Cuffe, Mike (R, 1) · primary sponsor
- Nicol, Nelly (R, 53)
Latest actions
- : Chapter Number Assigned
- : (S) Signed by Governor
- : (S) Transmitted to Governor
- : (H) Signed by Speaker
- : (S) Signed by President
- : (S) Returned from Enrolling
- : (S) Sent to Enrolling
- : (H) 3rd Reading
- : (H) Scheduled for 3rd Reading
- : (H) 2nd Reading
Votes
- Do Concur (March 28, 2025): 98 yea, 1 nay, passed
- Do Concur (March 27, 2025): 97 yea, 1 nay, passed
- Do Pass (February 27, 2025): 50 yea, 0 nay, passed
- Do Pass (February 26, 2025): 50 yea, 0 nay, passed
Subjects: Estates
Common questions
- What is SB305?
- SB305 is a bill in the Montana Legislature (2025 Regular Session): Revise funeral trust laws.
- What does SB305 do?
- In its own words: An act generally revising funeral trust laws; requiring funeral trust funds to comply with the prudent investor rule; and amending section 37-19-828, mca.
- What is the status of SB305?
- Signed into law as of April 18, 2025. Latest action: Chapter Number Assigned (April 18, 2025).
- Who sponsored SB305?
- Cuffe, Mike (R, 1), with 1 co-sponsor.
- Where is the official record for SB305?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0194
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.