All Roll Calls
Yes: 103 • No: 0
WyomingHB 1812025 General SessionHouseWALLET
AN ACT relating to insurance; amending investment authorization for prepaid or prearranged funeral contract proceeds; amending related surety bond provisions; specifying application of purchase monies and investment earnings; requiring notice to contract purchasers; and providing for effective dates.
Sponsored By: Lloyd Larsen (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Funeral trusts protect funds but block refunds
Beginning July 1, 2025, Wyoming approves placing prepaid funeral money in irrevocable trusts invested under state trust investment laws. Approved investments also include banks, trust companies, and federal savings and loan associations located in Wyoming. Trust earnings, including interest, income, and dividends, may benefit the funeral seller. Earnings can leave the trust only when an event requires withdrawal of the original money placed in it. Once money enters an irrevocable trust, neither the buyer nor the person covered can cancel or demand a refund. The law leaves contracts entered into before July 1, 2025, unchanged.
Funeral buyers get investment risk notices
Beginning July 1, 2025, Wyoming requires insurance rules covering notices to prepaid or prearranged funeral buyers. Notices must explain approved investment types, their risks, and buyers’ cancellation and refund rights. The Department of Insurance supervises and audits contract funds, with department-approved requirements for receiving, investing, and withdrawing money. This covers future funeral goods and services, bought outright or in installments, through Wyoming residents or businesses operating in Wyoming. The rulemaking requirement took effect when the act became law; contracts entered into before July 1, 2025, remain unchanged.
Funeral providers avoid extra trust bonds
Beginning July 1, 2025, Wyoming insurance rules cannot require extra surety bond amounts for qualifying irrevocable funeral trust funds. To qualify, the money must be invested in compliance with Wyoming’s trust investment law, W.S. 4-10-902. Providers still must meet the minimum surety bond requirement for those receiving prepaid or prearranged funeral money. Contracts entered into before July 1, 2025, remain unchanged.
Sponsors & Cosponsors
Sponsor
Lloyd Larsen
Republican • House
Cosponsors
Landon Brown
Republican • House
Christopher Knapp
Republican • House
Art Washut
Republican • House
Wendy Schuler
Republican • Senate
Roll Call Votes
Senate vote • 2/24/2025
S 3rd Reading:Passed 30-0-1-0-0
Yes: 30 • No: 0
Senate vote • 2/19/2025
S09 - Minerals:Recommend Do Pass 4-0-1-0-0
Yes: 4 • No: 0
House vote • 2/6/2025
H 3rd Reading:Passed 61-0-1-0-0
Yes: 61 • No: 0
House vote • 1/28/2025
H03 - Revenue:Recommend Amend and Do Pass 8-0-1-0-0
Yes: 8 • No: 0
Actions Timeline
Assigned Chapter Number 48
2/27/2025Governor Signed HEA No. 0027
2/27/2025GovernorS President Signed HEA No. 0027
2/24/2025SenateH Speaker Signed HEA No. 0027
2/24/2025HouseAssigned Number HEA No. 0027
2/24/2025S 3rd Reading:Passed 30-0-1-0-0
2/24/2025SenateS 2nd Reading:Passed
2/21/2025SenateS COW:Passed
2/20/2025SenateS Placed on General File
2/19/2025SenateS09 - Minerals:Recommend Do Pass 4-0-1-0-0
2/19/2025SenateS Introduced and Referred to S09 - Minerals
2/11/2025SenateS Received for Introduction
2/7/2025SenateH 3rd Reading:Passed 61-0-1-0-0
2/6/2025HouseH 2nd Reading:Passed
2/5/2025HouseH COW:Passed
2/4/2025HouseH Placed on General File
1/28/2025HouseH03 - Revenue:Recommend Amend and Do Pass 8-0-1-0-0
1/28/2025HouseH Introduced and Referred to H03 - Revenue
1/24/2025HouseH Received for Introduction
1/15/2025HouseBill Number Assigned
1/14/2025
Bill Text
Engrossed
Enrolled
Introduced
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