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Bill would let Montana funeral‑trust funds follow ‘prudent investor’ rule to seek higher returns
Summary
The Senate Business and Labor Committee heard Senate Bill 305, sponsored by Sen. Mike Cuff, which would remove a statutory restriction on how prepaid funeral trust funds may be invested and apply the prudent investor rule to increase potential returns for consumers.
Senate Bill 305, carried by Senator Mike Cuff, was heard in the Senate Business and Labor Committee as proponents urged lawmakers to allow prepaid funeral trust funds broader investment authority under the prudent investor rule.
The bill strikes a statutory limitation in the current Montana funeral‑trust law (cited in testimony as 37‑19‑828) and replaces it with the “prudent investor” standard referenced in Montana law, a change supporters said will let trusts pursue higher returns for consumers who prepay funerals.
Senator Mike Cuff, sponsor: “Senate Bill 305 came to me through one of my constituents ... Straightforward, simple bill, consumer focused, and a consumer benefit.” He told the committee the change would align…
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