(225 ILCS 45/1) (from Ch. 111 1/2, par. 73.101)
Sec. 1. Payment under pre-need contract. Except as otherwise provided in
this Section, all sales proceeds
paid to any person, partnership, association
or corporation with respect to merchandise or services covered by this Act,
upon any agreement or contract, or any series or combination
of agreements or contracts, which has for a purpose the furnishing or
performance of funeral services, or the furnishing or delivery of any
personal property, merchandise, or services of any nature in connection
with the final disposition of a dead human body, including, but not
limited to, outer burial containers, urns, combination casket-vault units,
caskets and clothing, for future use at a time determinable by the death of the
person or persons whose body or bodies are to be so disposed of, shall be held
to be trust funds, and shall be placed in trust in accordance with Sections 1b
and 2, or shall be used to purchase life insurance or annuities in accordance
with Section 2a. The person, partnership, association or corporation receiving
said payments under a pre-need contract is hereby declared to be a trustee
thereof until deposits of funds are made in accordance with Section 1b or 2a of
this Act.
Nothing in this Act shall be construed to prohibit the inclusion of outer
burial containers in sales contracts under the Illinois Pre-Need Cemetery Sales
Act.
(Source: P.A. 96-879, eff. 2-2-10.)
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