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Committee hears bill to allow broader investments for Montana funeral trust accounts
Summary
A House Business and Labor hearing on Senate Bill 305 heard supporters say the bill would let prepay funeral trust accounts follow Montana's prudent investor rule, aiming to increase growth of prepaid funds for families. No opponents testified; agency staff were available for questions.
A House Business and Labor Committee hearing on Senate Bill 305 on Thursday reviewed a proposal to change how Montana funeral trust funds may be invested.
Senator Cuff, sponsor of SB 305, told the committee the bill "is very straightforward, very simple... It's good for the kids, and it's good for the old folks," and said the measure would strike-and-replace a sentence of state code to make the Montana Funeral Trust subject to the state's prudent investor standard.
Advocates including the Montana Funeral Directors Association said the change would let trust accounts pursue a broader investment strategy than the law allowed when the trust statute was drafted in the 1980s. The acting executive director of the…
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