Code of Virginia - Title 54.1 Professions And Occupations - Chapter 23.1 Cemetery Operators, Perpetual Care Trust Funds And Preneed Burial Contracts

54.1-2310 Definitions
As used in this chapter, unless the context requires a different meaning: "Advertisement" means any information disseminated or placed before the public. "At-need" means at ...

54.1-2311 Cemetery operators required to be licensed by the Board
No person shall engage in the business of a cemetery company in the Commonwealth without first being licensed by the Board. The cemetery company shall ...

54.1-2312 Exemptions
A. The provisions of this chapter shall not apply to cemeteries wholly owned and operated by the state or a county, city or town; a ...

54.1-2313 Board; appointment; terms; vacancies; meetings; quorum; other powers; regulations
A. The Cemetery Board shall consist of seven members to be appointed by the Governor as follows: four cemetery operators who have operated a cemetery ...

54.1-2313.1 Protection of preneed burial and perpetual care trust funds; operation of cemetery company; appoint...
No licensee or any agent of the licensee shall divert or misuse any funds held in trust or otherwise held by him for another. If ...

54.1-2314 Refusal, suspension or revocation of license or registration
The Board may refuse to license or register any applicant, suspend a license or registration for a stated period or indefinitely, revoke any license or ...

54.1-2315 Other prohibited activities
The following acts shall be prohibited: 1. Employment directly or indirectly of any sales representative, agent, employee or other person, on a part-time or full-time ...

54.1-2316 Certain representations unlawful; perpetual care trust fund required
It shall be unlawful to sell or offer for sale in the Commonwealth any grave or entombment right in a cemetery and, in connection therewith, ...

54.1-2317 Who may serve as trustee of perpetual care trust fund
A. The trustee of the perpetual care trust fund shall be appointed by the person owning, operating, or developing a cemetery company. If the trustee ...

54.1-2318 Application of Title 26
Trustees appointed pursuant to this chapter shall be governed in their investment of trust funds by §§ 26-40 through 26-45.1, except as otherwise provided in ...

54.1-2319 Deposit in perpetual care trust fund required upon sale of graves, etc
Each cemetery company shall deposit a minimum of ten percent of the receipts from the sale of graves and above-ground crypts and niches, excluding below-ground ...

54.1-2320 Additional deposit not required upon subsequent sale of same grave, crypt or niche
If ten percent of the sales price of a grave or above-ground crypt or niche has been deposited in a perpetual care trust fund, no ...

54.1-2321 Recovery of original perpetual care trust fund deposit
Once the cemetery company has deposited in the perpetual care trust fund a sum equal to twice the amount of the original deposit, exclusive of ...

54.1-2322 Use of income from perpetual care trust fund
The income from the perpetual care trust fund shall be used solely and exclusively for the general care, maintenance, administration and embellishment of the cemetery. ...

54.1-2323 Financial records required
The cemetery company shall file with the Board detailed accounts of all transactions, receipts and accounts receivable subject to the ten percent trust requirement and ...

54.1-2324 Financial report and written assurance required for perpetual care trust funds
A. Within four months after the close of its fiscal year, the cemetery company shall report the following information to the Board, on forms prescribed ...

54.1-2325 Deposit in preneed trust required upon sale of property or services not to be delivered within 120 ...
A. Each cemetery company shall deposit into a trust fund at least forty percent of the receipts from the sale of property or services purchased ...

54.1-2326 Who may serve as trustee of preneed trust fund
A. The trustee of the preneed trust fund shall be appointed by the person owning, operating, or developing a cemetery company. If the trustee is ...

54.1-2327 Itemized statement and general price list of burial fees to be furnished; solicitations prohibite...
A. Every cemetery company licensed pursuant to the provisions of this chapter shall furnish a written general price list and a written itemized statement of ...

54.1-2328 Requirements of preneed burial contracts
A. It shall be unlawful for any person doing business within the Commonwealth to make, either directly or indirectly by any means, a preneed burial ...

54.1-2329 Identification of specific funds
Specific funds deposited in the trust account shall be identified in the records of the seller by the contract number and by the name of ...

54.1-2330 Specific funds and income to remain in preneed trust account; exception
Specific funds shall remain intact until the property is delivered or services performed as specified in the contract. The net income from the preneed trust ...

54.1-2331 Disbursement of trust funds upon performance of contract
A. Upon performance of the preneed burial contract, the seller shall certify to the trustee by affidavit the amount of specific funds in the trust, ...

54.1-2332 Seller required to keep records
Each seller of a preneed burial contract shall file with the Board at such time as the Board may prescribe, detailed accounts of all contracts ...

54.1-2333 Financial report and written assurance required for preneed trust accounts
A. The cemetery company shall report the following information to the Board within four months following the cemetery company's fiscal year, on forms prescribed by ...

54.1-2334 Inclusion of property and services to be delivered within 120 days
Nothing in this chapter shall be deemed to prohibit the sale within the preneed burial contract of property or services to be delivered within 120 ...

54.1-2335 Breach of contract by seller; trust to be single purpose trust
If, after a written request, the seller fails to perform its contractual duties, the purchaser, executor or administrator of the estate, or heirs, or assigns ...

54.1-2336 Trustee may rely on certifications and affidavits
The trustee may rely upon all certifications and affidavits made pursuant to or required by the provisions of this chapter and shall not be liable ...

54.1-2337 Transfer of trust funds to another trustee
The seller may, upon notification in writing to the trustee, and upon such other terms and conditions as the agreement between them may specify, transfer ...

54.1-2338 Use of trustee's name in advertisements
No person subject to the provisions of this chapter shall use the name of the trustee in any advertisement or other public solicitation without written ...

54.1-2339 Construction and development of mausoleums and garden crypts
Within four years after the date of the first sale, a cemetery company or other seller of mausoleums and garden crypts shall be required to ...

54.1-2340 Waiver of chapter void
Any provision of any contract which purports to waive any provision of this chapter shall be void. (1998, cc. 708, 721.) ...

54.1-2341 Exemption from levy, garnishment and distress
Any money, personal property or real property paid, delivered or conveyed subject to § 54.1-2325 shall be exempt from levy, garnishment or distress. (1998, cc. ...

54.1-2342 Penalties
Any person who violates any of the provisions of this chapter shall be subject to the sanctions provided in Chapter 1 (§ 54.1-100 et seq.) ...