§ 54.1-2328. Requirements of preneed burial contracts.
A. It shall be unlawful for any person doing business within the Commonwealthto make, either directly or indirectly by any means, a preneed burialcontract unless the contract:
1. Is made on forms prescribed by the Board and is written in clear,understandable language and printed in easy-to-read type, size and style;
2. Identifies the seller, seller's license number, contract buyer and personfor whom the contract is purchased if other than the contract buyer;
3. Contains a complete description of the property or services purchased;
4. Clearly discloses whether the price of the property and services purchasedis guaranteed;
5. States, for funds required to be trusted pursuant to § 54.1-2325, theamount to be trusted and the name of the trustee;
6. Contains the name, address and telephone number of the Board and lists theBoard as the regulatory agency which handles consumer complaints;
7. Provides that any purchaser who makes payment under the contract mayterminate the agreement within three days of execution and that suchpurchaser shall be refunded all consideration paid or delivered, less amountspaid for any property or supplies that have been delivered;
8. Provides that if the particular property or services specified in thecontract are unavailable at the time of delivery, the seller shall berequired to furnish property or services similar in size and style and atleast equal in quality of material and workmanship and that therepresentative of the deceased shall have the right to choose the property orservices to be substituted, which shall be at least equal or reasonablyequivalent in quality of material, workmanship, and cost;
9. Discloses any additional costs that the purchaser may be required to payat-need, including disclosure of the cost of opening and closing the grave;
10. Complies with all disclosure requirements imposed by the Board;
11. Is executed in duplicate and a signed copy given to the buyer; and
12. Provides that the contract buyer shall have the right to change thecontract provider at any time prior to the furnishing of the property orservices, excluding any mausoleum crypt or garden crypt, contracted for underthe preneed burial contract. If the contract seller will not be furnishingthe property and services to the purchaser, the contract seller shall attachto the preneed burial contract a copy of the seller's agreement with theprovider.
B. Any preneed burial contract sold or offered by any cemetery company oragent with a trust fund deposit of less than 100 percent shall be required toinclude the following printed statement in capitalized letters, in ten-point,bold-faced type:
THIS PRENEED BURIAL CONTRACT REQUIRES THE PLACEMENT IN TRUST OF A MINIMUM OF40% OF THE FUNDS INCLUDED IN THIS CONTRACT. THE BALANCE OF FUNDS MAY BE USEDFOR CARE AND MAINTENANCE OF THE CEMETERY AND ARE NOT REQUIRED TO BE PLACED INTRUST.
§ 54.1-2328. Requirements of preneed burial contracts.
A. It shall be unlawful for any person doing business within the Commonwealthto make, either directly or indirectly by any means, a preneed burialcontract unless the contract:
1. Is made on forms prescribed by the Board and is written in clear,understandable language and printed in easy-to-read type, size and style;
2. Identifies the seller, seller's license number, contract buyer and personfor whom the contract is purchased if other than the contract buyer;
3. Contains a complete description of the property or services purchased;
4. Clearly discloses whether the price of the property and services purchasedis guaranteed;
5. States, for funds required to be trusted pursuant to § 54.1-2325, theamount to be trusted and the name of the trustee;
6. Contains the name, address and telephone number of the Board and lists theBoard as the regulatory agency which handles consumer complaints;
7. Provides that any purchaser who makes payment under the contract mayterminate the agreement within three days of execution and that suchpurchaser shall be refunded all consideration paid or delivered, less amountspaid for any property or supplies that have been delivered;
8. Provides that if the particular property or services specified in thecontract are unavailable at the time of delivery, the seller shall berequired to furnish property or services similar in size and style and atleast equal in quality of material and workmanship and that therepresentative of the deceased shall have the right to choose the property orservices to be substituted, which shall be at least equal or reasonablyequivalent in quality of material, workmanship, and cost;
9. Discloses any additional costs that the purchaser may be required to payat-need, including disclosure of the cost of opening and closing the grave;
10. Complies with all disclosure requirements imposed by the Board;
11. Is executed in duplicate and a signed copy given to the buyer; and
12. Provides that the contract buyer shall have the right to change thecontract provider at any time prior to the furnishing of the property orservices, excluding any mausoleum crypt or garden crypt, contracted for underthe preneed burial contract. If the contract seller will not be furnishingthe property and services to the purchaser, the contract seller shall attachto the preneed burial contract a copy of the seller's agreement with theprovider.
B. Any preneed burial contract sold or offered by any cemetery company oragent with a trust fund deposit of less than 100 percent shall be required toinclude the following printed statement in capitalized letters, in ten-point,bold-faced type:
THIS PRENEED BURIAL CONTRACT REQUIRES THE PLACEMENT IN TRUST OF A MINIMUM OF40% OF THE FUNDS INCLUDED IN THIS CONTRACT. THE BALANCE OF FUNDS MAY BE USEDFOR CARE AND MAINTENANCE OF THE CEMETERY AND ARE NOT REQUIRED TO BE PLACED INTRUST.
§ 54.1-2328. Requirements of preneed burial contracts.
A. It shall be unlawful for any person doing business within the Commonwealthto make, either directly or indirectly by any means, a preneed burialcontract unless the contract:
1. Is made on forms prescribed by the Board and is written in clear,understandable language and printed in easy-to-read type, size and style;
2. Identifies the seller, seller's license number, contract buyer and personfor whom the contract is purchased if other than the contract buyer;
3. Contains a complete description of the property or services purchased;
4. Clearly discloses whether the price of the property and services purchasedis guaranteed;
5. States, for funds required to be trusted pursuant to § 54.1-2325, theamount to be trusted and the name of the trustee;
6. Contains the name, address and telephone number of the Board and lists theBoard as the regulatory agency which handles consumer complaints;
7. Provides that any purchaser who makes payment under the contract mayterminate the agreement within three days of execution and that suchpurchaser shall be refunded all consideration paid or delivered, less amountspaid for any property or supplies that have been delivered;
8. Provides that if the particular property or services specified in thecontract are unavailable at the time of delivery, the seller shall berequired to furnish property or services similar in size and style and atleast equal in quality of material and workmanship and that therepresentative of the deceased shall have the right to choose the property orservices to be substituted, which shall be at least equal or reasonablyequivalent in quality of material, workmanship, and cost;
9. Discloses any additional costs that the purchaser may be required to payat-need, including disclosure of the cost of opening and closing the grave;
10. Complies with all disclosure requirements imposed by the Board;
11. Is executed in duplicate and a signed copy given to the buyer; and
12. Provides that the contract buyer shall have the right to change thecontract provider at any time prior to the furnishing of the property orservices, excluding any mausoleum crypt or garden crypt, contracted for underthe preneed burial contract. If the contract seller will not be furnishingthe property and services to the purchaser, the contract seller shall attachto the preneed burial contract a copy of the seller's agreement with theprovider.
B. Any preneed burial contract sold or offered by any cemetery company oragent with a trust fund deposit of less than 100 percent shall be required toinclude the following printed statement in capitalized letters, in ten-point,bold-faced type:
THIS PRENEED BURIAL CONTRACT REQUIRES THE PLACEMENT IN TRUST OF A MINIMUM OF40% OF THE FUNDS INCLUDED IN THIS CONTRACT. THE BALANCE OF FUNDS MAY BE USEDFOR CARE AND MAINTENANCE OF THE CEMETERY AND ARE NOT REQUIRED TO BE PLACED INTRUST.
