Cemeteries and Preneed Sellers (5513XD) - Insurance and Financial Services, Department of

This bill (5513XD) regulates preneed cemetery and funeral service sellers in Iowa. It directly affects preneed sellers, their sales agents, and purchasers who buy services in advance. Key provisions include: requiring sellers to adjust refunds for inflation using the U.S. Bureau of Labor Statistics' CPI data, limiting seller deductions to 10% of purchase price during cancellations, mandating clear contract disclosures about regulatory oversight, and imposing stricter annual audit requirements for sellers holding trust funds. The bill also strengthens licensing rules for sales agents and ensures refunds within 30 days if services cannot be delivered as promised.