Wyoming HB0181 updates investment and bonding requirements for prepaid or prearranged funeral contracts.

Wyoming HB0181 amends investment authorization for proceeds from prepaid or prearranged funeral contracts. It specifies that funds must be invested in approved institutions and outlines the application of purchase monies and investment earnings. The bill also mandates that the Department of Insurance promulgate rules requiring notice to contract purchasers about investments and the ability to cancel or terminate contracts. The act does not affect contracts entered into before July 1, 2025.

Wyoming HB0181 updates investment and bonding requirements for prepaid or prearranged funeral contracts.

Wyoming HB0181 amends investment authorization for proceeds from prepaid or prearranged funeral contracts. It specifies that funds must be invested in approved institutions and outlines the application of purchase monies and investment earnings. The bill also mandates that the Department of Insurance promulgate rules requiring notice to contract purchasers about investments and the ability to cancel or terminate contracts. The act does not affect contracts entered into before July 1, 2025.