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91_HB2081ham003
LRB9103838DJcdam02
1 AMENDMENT TO HOUSE BILL 2081
2 AMENDMENT NO. . Amend House Bill 2081, AS AMENDED,
3 as follows:
4 by replacing the title with the following:
5 "AN ACT to amend the Cemetery Care Act by changing
6 Section 12."; and
7 by replacing everything after the enacting clause with the
8 following:
9 "Section 5. The Cemetery Care Act is amended by changing
10 Section 12 as follows:
11 (760 ILCS 100/12) (from Ch. 21, par. 64.12)
12 Sec. 12. Annual reports. Every licensee shall prepare a
13 written report as of the end of the preceding calendar year
14 or fiscal year, as the case may be, showing the following:
15 (a) The amount of the principal of the care funds held
16 in trust by the trustee of the care funds at the beginning of
17 such year and in addition thereto all moneys or property
18 received during such year (1) under and by virtue of the sale
19 of a lot, grave, crypt or niche; (2) under or by virtue of
20 the terms of the contract authorized by the provisions of
21 Section 3 of this Act; (3) under or by virtue of any gift,
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1 grant, legacy, payment or other contribution made either
2 prior to or subsequent to the effective date of this Act, and
3 (4) under or by virtue of any contract or conveyance made
4 either prior to or subsequent to the effective date of this
5 Act;
6 (b) The securities in which such care funds are invested
7 and the cash on hand as of the date of the report;
8 (c) The income received from such care funds during the
9 preceding calendar year, or fiscal year, as the case may be;
10 (d) The expenditures made from said income during the
11 preceding calendar year, or fiscal year, as the case may be;
12 and
13 (e) The number of interments made during the preceding
14 calendar year, or fiscal year, as the case may be.
15 Where any of the care funds of a licensee are held by an
16 independent trustee, the report filed by the licensee shall
17 contain a certificate signed by the trustee of the care funds
18 of such licensee certifying to the truthfulness of the
19 statements in the report as to (1) the total amount of
20 principal of the care funds held by the trustee, (2) the
21 securities in which such care funds are invested and the cash
22 on hand as of the date of the report and (3) the income
23 received from such care funds during the preceding calendar
24 year, or fiscal year, as the case may be.
25 Such report shall be filed by such licensee on or before
26 March 15 of each calendar year, in the office of the
27 Comptroller. If the fiscal year of such licensee is other
28 than on a calendar year basis, then such licensee shall file
29 the report required by this Section within 2 1/2 months of
30 the end of its fiscal year. The Comptroller shall for good
31 cause shown grant an extension for the filing of the annual
32 report upon the written request of the licensee. Such
33 extension shall not exceed 60 days. If a licensee fails to
34 submit an annual report to the Comptroller within the time
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1 specified in this Section, the Comptroller shall impose upon
2 the licensee a penalty of $5 for each and every day the
3 licensee remains delinquent in submitting the annual report.
4 Such report shall be made under oath and shall be in the
5 form furnished by the Comptroller. Each report shall be
6 accompanied by a check or money order in the amount of $10,
7 payable to: Comptroller, State of Illinois.
8 If any annual report shows that the amount of the care
9 funds held in trust at the end of the preceding calendar year
10 or fiscal year, as the case may be, has increased in amount
11 over that shown by the next preceding report, then the
12 fidelity bond theretofore filed shall be increased to the
13 amount required by Section 9 of this Act. Such increased
14 fidelity bond shall accompany the report and no report shall
15 be accepted by the Comptroller unless accompanied by such
16 bond, except where the filing of a bond is excused by Section
17 18 of this Act.
18 (Source: P.A. 88-477; 89-615, eff. 8-9-96.)".