JEFFERSON CITY, Mo. | Missouri lawmakers have approved greater oversight of prearranged funeral services after the financial collapse of a St. Louis-based company.
National Prearranged Services Inc. and its affiliated Texas-based insurance companies are being investigated by the FBI for alleged corporate misconduct.
After its financial failure last year, NPS still had more than 150,000 funeral contracts outstanding that were valued at around $650 million.
Families who prepaid for funerals still have received the services. But some funeral homes have not been fully reimbursed as promised by NPS.
The Missouri legislation sent Wednesday to Gov. Jay Nixon would require regular audits of prearranged funeral sellers. It also would increase the money they must keep in a trust fund.