SCS/SB 340 - This act modifies licensing requirements for funeral directors, embalmers, and funeral establishments and certain requirements for preneed funeral contracts. The act modifies the requirements for applicants for funeral director and embalmer licenses. A general equivalency diploma, or equivalent education, as determined by the board of embalmers and funeral directors, will satisfy the requirement that a person seeking a funeral director or embalmer license have a high school diploma. An applicant for a license to practice funeral directing or embalming is no longer required to be a Missouri citizen or a resident of a county bordering Missouri. An applicant for an embalmer's license is required to complete a funeral service education program, rather than graduate from an institute of mortuary science education. An applicant for a funeral director's license is required to complete the apprenticeship in twelve consecutive months, rather than twelve months. Also, funeral establishments will no longer be required to keep their register book or log in the preparation or embalming room. The log book must contain the name of each body that has been in the establishment, the date the body arrived, if applicable, the place the body was embalmed, and if the body was embalmed at the establishment, the date and time of the embalming and the name, signature, and license number of the embalmer. The act changes the requirements for membership on the board of embalmers and funeral directors and allows a majority of the members of the board to constitute a quorum at meetings. The act also modifies provisions that regulate preneed funeral contracts. Among other changes, the act modifies requirements for insurance-funded preneed contracts, so that these provisions apply to preneed contracts designated to be funded by deferred annuity contracts that are not classified as variable annuities and have death benefit proceeds that are never less than the sum of premiums paid. The act specifies that a trustee of a preneed trust is allowed to invest trust funds with authorized external investment advisors of a trustee, seller, or provider and allows preneed sellers and purchasers to agree to put the funds for the preneed contract in an account titled in the beneficiary's name and payable on the beneficiary's death to the seller. The act also changes the procedure for a funeral provider to receive funds after providing funeral services and merchandise and the procedure for a purchaser who want to cancel a preneed contract funded by a joint account. This act is similar to provisions of HCS/SB 325 (2011), SS/SCS/HCS/HB 265 (2011), and HB 668 (2011). EMILY KALMER