State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_90 > GS_90-210_60

Article 13D.

Preneed Funeral Funds.

§ 90‑210.60. Definitions.

As used in this Article,unless the context requires otherwise:

(1)        "Board"means the North Carolina Board of Funeral Service as created pursuant toArticle 13A of Chapter 90 of the General Statutes;

(2)        "Financialinstitution" means a bank, trust company, savings bank, or savings andloan association authorized by law to do business in this State;

(3)        "Insurancecompany" means any corporation, limited liability company, association,partnership, society, order, individual or aggregation of individuals engagingin or proposing or attempting to engage as principals in any kind of insurancebusiness, including the exchanging of reciprocal or interinsurance contractsbetween individuals, partnerships, and corporations;

(3a)      "Legalrepresentation" means the person authorized by G.S. 130A‑420 whowould be otherwise authorized to dispose of the remains of the preneed funeralcontract beneficiary.

(4)        "Prearrangementinsurance policy" means a life insurance policy, annuity contract, orother insurance contract, or any series of contracts or agreements in any formor manner, issued by an insurance company authorized by law to do business inthis State, which, whether by assignment or otherwise, has for a purpose thefunding of a preneed funeral contract or an insurance‑funded funeral orburial prearrangement, the insured or annuitant being the person for whoseservice the funds were paid;

(5)        "Preneedfuneral contract" means any contract, agreement, or mutual understanding,or any series or combination of contracts, agreements, or mutualunderstandings, whether funded by trust deposits or prearrangement insurancepolicies, or any combination thereof, which has for a purpose the furnishing orperformance of funeral services, or the furnishing or delivery of personalproperty, merchandise, or services of any nature in connection with the finaldisposition of a dead human body, to be furnished or delivered at a timedeterminable by the death of the person whose body is to be disposed of, butdoes not mean the furnishing of a cemetery lot, crypt, niche, or mausoleum;

(6)        "Preneedfuneral contract beneficiary" means the person upon whose death thepreneed funeral contract will be performed; this person may also be thepurchaser of the preneed funeral contract;

(7)        "Preneedfuneral funds" means all payments of cash made to any person, partnership,association, corporation, or other entity upon any preneed funeral contract orany other agreement, contract, or prearrangement insurance policy, or anyseries or combination of preneed funeral contracts or any other agreements,contracts, or prearrangement insurance policies, but excluding the furnishingof cemetery lots, crypts, niches, and mausoleums, which have for a purpose orwhich by operation provide for the furnishing or performance of funeral orburial services, or the furnishing or delivery of personal property,merchandise, or services of any nature in connection with the final dispositionof a dead human body, to be furnished or delivered at a time determinable bythe death of the person whose body is to be disposed of, or the providing ofthe proceeds of any insurance policy for such use;

(8)        "Preneedfuneral planning" means offering to sell or selling preneed funeralcontracts, or making other arrangements prior to death for the providing offuneral services or merchandise;

(9)        "Preneedlicensee" means a funeral establishment which has applied for and has beengranted a license to sell preneed funeral contracts under the Article. Suchlicense is also referred to in this Article as a "preneed funeralestablishment license." (1969, c. 187, s. 1; 1983, c. 657, s. 1; 1985, c. 12,s. 1; 1991 (Reg. Sess., 1992), c. 901, s. 2; 1993, c. 553, s. 27; 1997‑399,s. 23; 2001‑294, ss. 7, 8; 2003‑420, s. 1; 2007‑531, s. 7.1.)