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Article: LEGISLATURE APPROVES COMPTROLLER HYNES' PROTECTIONS FOR CONSUMER INVESTMENTS
- Article from:
- US Fed News Service, Including US State News
- Article date:
- May 30, 2009
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SPRINGFIELD, Ill., May 29 --The Illinois Office of the Controller issued the following news release:
The Legislature gave final approval today to stronger regulations proposed by Comptroller Dan Hynes that are designed to protect consumer investments used to pay for funeral and cemetery goods and services.
The Senate approved the measure 58-0 sending it to the Governor. The House approved the legislation earlier in the week.
Hynes said the legislation (SB1682) is needed to help prevent shortfalls similar to the one that occurred with a trust fund intended to pay for consumer funerals that was used by hundreds of funeral directors and administered by the Illinois Funeral Directors ...