WILLIAM DONALD SCHAEFER, Governor Ch. 681
h THE BUSINESS OF THE SELLER IS DISCONTINUED;

2. THE SELLER IS UNABLE TO PERFORM UNDER THE
TERMS AND CONDITIONS OF THE PRE-NEED CONTRACT;

1 THE BUYER FAILS TO PAY THE ENTIRE

CONTRACT PRICE BEFORE THE DEATH OF THE BENEFICIARY AND THE
SELLER CONSIDERS THE PRE-NEED CONTRACT VOID; AND

4. THE BUYER OR THE LEGAL REPRESENTATIVE OF

THE BUYER ENDS THE CONTRACT UNDER PARAGRAPH (3)(I) OF THIS
SUBSECTION.

{H) (61 IF THE BUYER EXERCISES THE OPTION
DESCRIBED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH (4) OF THIS
SUBSECTION, THE BUYER, A RELATIVE OF THE BUYER, OR LEGAL
REPRESENTATIVE OF THE BUYER SHALL RETAIN THE RIGHT TO
APPOINT, AS TRUSTEE OF THE IRREVOCABLE TRUST, A FUNERAL
DIRECTOR TRUSTEE OTHER THAN THE ONE ORIGINALLY DESIGNATED
IN THE CONTRACT.

(Zt IF A CONTRACT IS VOIDED UNDER PARAGRAPH (3) OF THIS
SUBSECTION AND THE OPTION TO ESTABLISH AN IRREVOCABLE TRUST HAS
BEEN EXERCISED UNDER PARAGRAPH (4) OF THIS SUBSECTION, THE BUYER,
A RELATIVE OF THE BUYER, OR A LEGAL REPRESENTATIVE OF THE BUYER
SHALL RETAIN THE RIGHT TO APPOINT, AS TRUSTEE OF THE IRREVOCABLE
TRUST, A TRUSTEE OTHER THAN THE ONE ORIGINALLY DESIGNATED IN THE
CONTRACT.

(f) (1) A pre-need contract is not subject to the Retail Installment Sales Act.

(2) The making of a pre-need contract by a licensed mortician is not the
practice of insurance business.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1990.

Approved May 29, 1990.

CHAPTER 681
(House Bill 1326)

AN ACT concerning

Sales and Use Tax - Remanufactured Truck Parts

FOR the purpose of exempting from the sales and use tax sales for use in trucks of
certain remanufoctured parts and their components altering a certain definition
for purposes of the sales and use tax to exclude from the "taxable price" the value

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