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SB 337 - This act modifies provisions of the Missouri Preneed Funeral Contract Act. The act provides that the obligations of a provider and seller of preneed funeral contracts shall not cease due the revocation or suspension of a provider or seller license or due to any failure to renew such license, provided that the contract was entered into while the provider and seller held a valid license. Currently, a seller of any insurance-funded preneed contract is required to file an annual report containing certain information. This act requires the annual report to include the status and total face value of each policy only if available to the seller and a certification under oath by an authorized representative of the seller. The Board may lower or not require the annual reporting fee if the sole consideration is whether the seller or provider has been made the beneficiary or assignee of an insurance policy that was in force more than one year prior to the date of the contract. If a seller's license has been suspended for failure to file an annual report, the license shall be reinstated from the due date when the filing of the annual report, the payment of all applicable fees, and all other requirements of the license are met. Any preneed funeral contract entered into while the license was suspended is void. A suspended license does not relieve the seller of the obligation to meet its contractual and statutory requirements to the providers, purchasers, or beneficiaries of any preneed contract made while the seller held a valid license. KATIE O'BRIEN
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