The Illinois Cemetery Care Act Bond is required by the Comptroller of the State of Illinois. The bond is required for the benefit of the Care Funds held by such Cemetery, or by the Trustee of the Care Funds of such Cemetery, for any direct loss sustained in the said Care Funds through the failure to administer properly, occasioned by an act or acts of theft, embezzlement, repudiation, or otherwise.
The Illinois Cemetery Care Act defines “care funds” as distinguished from receipts from annual charges or gifts for current or annual care, means any realty or personalty impressed with a trust by the terms of any gift, grant, contribution, payment, legacy, or pursuant to contract, accepted by any cemetery authority owning, operating, controlling or managing a privately operated cemetery, or by any trustee or licensee, agent or custodian for the same.
What are the requirements that must be submitted?
All applications under the Illinois Cemetery Care Act are required to submit the following:
- Registration Statement.
- $5 non-refundable registration fee.
- Application for License.
- $25 non-refundable application fee.
- Questionnaire(s) required of the applicant.
- Release Form(s) with each Questionnaire.
- Statement of Assets and Liabilities.
- Copy of certificate of registration from the Illinois Department of Revenue, if applicable.
- Copy of Trust Agreement, if applicable.
- Copy of Articles of Incorporation (or) articles of organization (or) a copy of a recent domestic corporation annual report (or) a copy of the application to adopt an assumed corporate name, issued by the office of the Secretary of State, where applicable.
- Illinois Cemetery Care Act Bond.
What is the Illinois Cemetery Care Act Bond Amount?
No cemetery authority owning, operating, controlling or managing a privately operated cemetery may accept the care funds authorized by the provisions of Section 3 of this Act without securing from the Comptroller a license to hold the funds. As part of the license, a Illinois Cemetery Care Act Bond in the amount equal to 1/10 of the care funds subject to a minimum of $1,000 must be provided
How to get a Illinois Cemetery Care Act Bond
To obtain a Illinois Cemetery Care Act Bond, all you need to do is complete the our easy to use, online application form, to receive an approval and a firm quote for the surety bond. This will be provided usually within just one business day! After you receive a quote, you make payment, sign some paperwork and your bond will be shipped out to you. Overnight shipping is available. Surety1 offers not just the competitive rates, but fast and friendly service as well.
Surety1 has been providing Illinois bonds since 2003, maintains an A+ rating with the Better Business Bureau and is licensed in all 50 states.