Illinois Compiled Statutes 225 Professions, Occupations, and Business Operations: Article -
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 1
Payment under pre-need contract. Except as otherwise provided in this Section, all sales proceeds paid to any person, partnership, association or corporation with respect to...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 1a
For the purposes of this Act, the following terms shall have the meanings specified, unless the context clearly requires another meaning: "Beneficiary" means the...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 1a-1
Pre-need contracts. (a) It shall be unlawful for any seller doing business within this State to accept sales proceeds from a purchaser, either directly or...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 1a-2
Pre-Need Funeral Consumer Protection Fund. (a) Each licensee shall pay a fee of $5 out of the funds received for each pre-need contract sold and...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 1b
(a) Whenever a seller receives sales proceeds under a pre-need contract that the purchaser elects to fund by a trust agreement, the seller may retain...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 2
(a) If a purchaser selects a trust arrangement to fund the pre-need contract, all trust deposits as determined by Section 1b shall be made within...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 2a
Purchase of insurance or annuity. (a) If a purchaser selects the purchase of a life insurance policy or tax-deferred annuity contract to fund the...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3
Licensing. (a) No person, firm, partnership, association or corporation may act as seller without first securing from the State Comptroller a license to so act....
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3a
Denial, suspension, or revocation of license. (a) The Comptroller may refuse to issue or may suspend or revoke a license on any of the following...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3a-5
License requirements. (a) Every license issued by the Comptroller shall state the number of the license, the business name and address of the licensee's principal...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3b
The Comptroller, at his expense, shall provide a certified shorthand reporter to take down the testimony and preserve a record of all proceedings at...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3c
Any circuit court may, upon application of the Comptroller or of the applicant or licensee against whom proceedings under Section 3a are pending, enter...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3d
Any person affected by a final administrative decision of the Comptroller may have such decision reviewed judicially by the circuit court of the county...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3e
Upon the revocation of, suspension of, or refusal to renew any license, the licensee shall immediately surrender the license or licenses to the Comptroller....
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 3f
Revocation of license. (a) The Comptroller, upon determination that grounds exist for the revocation or suspension of a license issued under this Act, may...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 4
Withdrawal of funds; revocability of contract. (a) Except as otherwise provided in this Act, monies in a trust established under Section 2 shall not be...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 4a
Investment of funds. (a) A trustee has a duty to invest and manage the trust assets pursuant to the Prudent Investor Rule under the Trusts...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 4b
Licensee bankruptcy. In the event of a licensee's bankruptcy, insolvency, or assignment for the benefit of creditors, or in the event of the bankruptcy,...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 5
This Act shall not be construed to prohibit the trustee and trustee's depositary from being reimbursed and receiving from such funds their reasonable compensation and...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 6
It is unlawful for any such agreement or agreements to provide for forfeiture and retention of payments upon any such agreement or series of...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 7
The invalidity of any section or part or portion of this Act shall not affect the validity of the remaining sections or part thereof....
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 7.1
Effect of Public Act 88-477. Public Act 88-477 shall not be construed to invalidate any contract or agreement entered into under this Act or...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 7.2
Investigation of unlawful practices. If it appears to the Comptroller that a person has engaged in, is engaging in, or is about to engage...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 7.3
Service. Service by the Comptroller of any notice requiring a person to file a statement or report shall be made: (1) personally by delivery...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 8
Any person who intentionally fails to deposit the required sales proceeds into a trust required under this Act, intentionally and improperly withdraws or uses...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 8.1
Sales; liability of purchaser for shortage. In the event of a sale or transfer of all or substantially all of the assets of the licensee,...
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 9
This Act shall be known and may be cited as the "Illinois Funeral or Burial Funds Act". (Source: P.A. 83-464.)
- Illinois Funeral or Burial Funds Act. - 225 ILCS 45, Section 10
Nothing in this Act shall be deemed to apply to pre-need cemetery sales under the "Illinois Pre-Need Cemetery Sales Act", enacted by the 84th...
Last modified: February 18, 2015