{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-2822.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-2822.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-2822.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-2822.html"}],"law_id":86091,"edition_id":1,"section_id":86091,"structure_id":14038,"section_number":"54.1-2822","catch_line":"Deposit of money received pursuant to preneed funeral contract","history":"1989, c. 684; 1992, c. 337; 2007, c. 621.","full_text":"A\n\nWithin 30 days following the receipt of any money paid pursuant to any preneed funeral contract or interest or income accrued thereon, unless such amounts are paid to fund either an annuity or an insurance policy which will be used to purchase the funeral supplies or services contracted for, the person receiving such amounts shall deposit all consideration paid pursuant to the terms of a preneed funeral contract in which the price of the supplies and services is not guaranteed, or ninety percent of all consideration paid pursuant to the terms of a preneed funeral contract in which the price of the supplies and services is guaranteed, in a special account in a bank or savings institution doing business in this Commonwealth.B\n\nThe funds shall be deposited in separate, identifiable trust accounts setting forth the names of the depositor, the trustee for the person who is the subject of the contract, the name of the person who will render the funeral services and the name of the person who is the subject of the contract. The purchaser shall have the right to change the beneficiary and trustee of the trust at any time prior to the furnishing of the services or supplies contracted for under the preneed funeral contract. Trust account records shall be subject to examination by the Board.C\n\nNo funeral director, embalmer, funeral service licensee, owner of a funeral establishment, or any person employed by or having an interest in a funeral establishment shall serve as trustee of a trust account for which any such person, or any funeral establishment owned by or employing such person or in which such person has an interest, has been named the beneficiary or designated the provider of services, unless two or more such persons are named and serve as trustees and are required to act jointly in such fiduciary capacity. Subject to the terms of this subsection, and notwithstanding any other provision of law, the trustee for any such trust account may be an incorporated association that is authorized to sell burial association group life insurance certificates in the Commonwealth, as described in the definition of limited burial insurance authority in § 38.2-1800, whose principal purpose is to assist its members in (i) financial planning for their funerals and burials and (ii) obtaining insurance for the payment, in whole or in part, for funeral, burial, and related expenses.","order_by":null,"text":{"0":{"id":308242,"text":"Within 30 days following the receipt of any money paid pursuant to any preneed funeral contract or interest or income accrued thereon, unless such amounts are paid to fund either an annuity or an insurance policy which will be used to purchase the funeral supplies or services contracted for, the person receiving such amounts shall deposit all consideration paid pursuant to the terms of a preneed funeral contract in which the price of the supplies and services is not guaranteed, or ninety percent of all consideration paid pursuant to the terms of a preneed funeral contract in which the price of the supplies and services is guaranteed, in a special account in a bank or savings institution doing business in this Commonwealth.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":308243,"text":"The funds shall be deposited in separate, identifiable trust accounts setting forth the names of the depositor, the trustee for the person who is the subject of the contract, the name of the person who will render the funeral services and the name of the person who is the subject of the contract. The purchaser shall have the right to change the beneficiary and trustee of the trust at any time prior to the furnishing of the services or supplies contracted for under the preneed funeral contract. Trust account records shall be subject to examination by the Board.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":308244,"text":"No funeral director, embalmer, funeral service licensee, owner of a funeral establishment, or any person employed by or having an interest in a funeral establishment shall serve as trustee of a trust account for which any such person, or any funeral establishment owned by or employing such person or in which such person has an interest, has been named the beneficiary or designated the provider of services, unless two or more such persons are named and serve as trustees and are required to act jointly in such fiduciary capacity. Subject to the terms of this subsection, and notwithstanding any other provision of law, the trustee for any such trust account may be an incorporated association that is authorized to sell burial association group life insurance certificates in the Commonwealth, as described in the definition of limited burial insurance authority in § 38.2-1800, whose principal purpose is to assist its members in (i) financial planning for their funerals and burials and (ii) obtaining insurance for the payment, in whole or in part, for funeral, burial, and related expenses.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":14038,"edition_id":1,"name":"Preneed Funeral Contracts","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13923,"metadata":{},"date_created":"2026-06-26 03:46:40","date_modified":"2026-06-26 03:46:40","permalink":{"id":241903,"object_type":"structure","relational_id":14038,"identifier":"5","token":"54.1\/III\/28\/5","url":"\/54.1\/III\/28\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13923,"edition_id":1,"name":"Funeral Services","identifier":"28","label":"chapter","depth":3,"order_by":1,"parent_id":12758,"metadata":{},"date_created":"2026-06-26 03:46:19","date_modified":"2026-06-26 03:46:19","permalink":{"id":241753,"object_type":"structure","relational_id":13923,"identifier":"28","token":"54.1\/III\/28","url":"\/54.1\/III\/28\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12758,"edition_id":1,"name":"Professions and Occupations Regulated by Boards Within the Department of Health Professions","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":241105,"object_type":"structure","relational_id":12758,"identifier":"III","token":"54.1\/III","url":"\/54.1\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":68795,"structure_id":14038,"section_number":"54.1-2820","catch_line":"Requirements of preneed funeral contracts","url":"\/54.1-2820\/","token":"54.1\/III\/28\/5\/54.1-2820","metadata":false},{"id":82829,"structure_id":14038,"section_number":"54.1-2821","catch_line":"Exemptions","url":"\/54.1-2821\/","token":"54.1\/III\/28\/5\/54.1-2821","metadata":false},{"id":86091,"structure_id":14038,"section_number":"54.1-2822","catch_line":"Deposit of money received pursuant to preneed funeral contract","url":"\/54.1-2822\/","token":"54.1\/III\/28\/5\/54.1-2822","metadata":false},{"id":58878,"structure_id":14038,"section_number":"54.1-2822.1","catch_line":"Funeral establishments to maintain preneed records","url":"\/54.1-2822.1\/","token":"54.1\/III\/28\/5\/54.1-2822.1","metadata":false},{"id":55177,"structure_id":14038,"section_number":"54.1-2823","catch_line":"Exemption from levy, garnishment and distress","url":"\/54.1-2823\/","token":"54.1\/III\/28\/5\/54.1-2823","metadata":false},{"id":55129,"structure_id":14038,"section_number":"54.1-2824","catch_line":"Declaration of trust in consideration other than money","url":"\/54.1-2824\/","token":"54.1\/III\/28\/5\/54.1-2824","metadata":false},{"id":84076,"structure_id":14038,"section_number":"54.1-2825","catch_line":"Person to make arrangements for funeral and disposition of remains","url":"\/54.1-2825\/","token":"54.1\/III\/28\/5\/54.1-2825","metadata":false}],"previous_section":{"id":82829,"structure_id":14038,"section_number":"54.1-2821","catch_line":"Exemptions","url":"\/54.1-2821\/","token":"54.1\/III\/28\/5\/54.1-2821","metadata":false},"next_section":{"id":58878,"structure_id":14038,"section_number":"54.1-2822.1","catch_line":"Funeral establishments to maintain preneed records","url":"\/54.1-2822.1\/","token":"54.1\/III\/28\/5\/54.1-2822.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-2822\/","history_text":"

This law was first created in 1989. The record of its establishment is cataloged in chapter 684 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1989 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1992, chapter 337; in 2007, chapter 621<\/a>.<\/p>","references":[{"id":68795,"section_number":"54.1-2820","catch_line":"Requirements of preneed funeral contracts","order_by":null,"url":"\/54.1-2820\/"},{"id":55177,"section_number":"54.1-2823","catch_line":"Exemption from levy, garnishment and distress","order_by":null,"url":"\/54.1-2823\/"}],"refers_to":[{"id":67482,"section_number":"38.2-1800","catch_line":"Definitions","order_by":null,"url":"\/38.2-1800\/"}],"permalink":{"id":241913,"object_type":"law","relational_id":86091,"identifier":"54.1-2822","token":"54.1\/III\/28\/5\/54.1-2822","url":"\/54.1-2822\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-2822\/","token":"54.1\/III\/28\/5\/54.1-2822","dublin_core":{"Title":"Deposit of money received pursuant to preneed funeral contract","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-2822","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Within 30 days following the receipt of any money paid pursuant to any preneed funeral contract<\/span> or interest or income accrued thereon, unless such amounts are paid to fund either an annuity or an insurance policy which will be used to purchase the funeral supplies or services contracted for, the person receiving such amounts shall deposit all consideration paid pursuant to the terms of a preneed funeral contract<\/span> in which the price of the supplies and services is not guaranteed, or ninety percent of all consideration paid pursuant to the terms of a preneed funeral contract<\/span> in which the price of the supplies and services is guaranteed, in a special account in a bank or savings institution doing business in this Commonwealth. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The funds shall be deposited in separate, identifiable trust accounts setting forth the names of the depositor, the trustee for the person who is the subject of the contract, the name of the person who will render the funeral services and the name of the person who is the subject of the contract. The purchaser shall have the right to change the beneficiary and trustee of the trust at any time prior to the furnishing of the services or supplies contracted for under the preneed funeral contract<\/span>. Trust account records shall be subject to examination by the Board<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> No funeral director<\/span>, embalmer<\/span>, funeral service licensee<\/span>, owner of a funeral establishment, or any person employed by or having an interest in a funeral establishment shall serve as trustee of a trust account for which any such person, or any funeral establishment owned by or employing such person or in which such person has an interest, has been named the beneficiary or designated the provider of services, unless two or more such persons are named and serve as trustees and are required to act jointly in such fiduciary capacity. Subject to the terms of this subsection, and notwithstanding any other provision of law<\/span>, the trustee for any such trust account may be an incorporated association that is authorized to sell burial association group life insurance certificates in the Commonwealth, as described in the definition of limited burial insurance authority in § 38.2-1800<\/a>, whose principal purpose is to assist its members in (i) financial planning for their funerals and burials and (ii) obtaining insurance for the payment, in whole or in part, for funeral, burial, and related expenses. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEPOSIT OF MONEY RECEIVED PURSUANT TO PRENEED FUNERAL CONTRACT (\u00a7 54.1-2822)\n\nA. Within 30 days following the receipt of any money paid pursuant to any\npreneed funeral contract or interest or income accrued thereon, unless such\namounts are paid to fund either an annuity or an insurance policy which will be\nused to purchase the funeral supplies or services contracted for, the person\nreceiving such amounts shall deposit all consideration paid pursuant to the\nterms of a preneed funeral contract in which the price of the supplies and\nservices is not guaranteed, or ninety percent of all consideration paid pursuant\nto the terms of a preneed funeral contract in which the price of the supplies\nand services is guaranteed, in a special account in a bank or savings\ninstitution doing business in this Commonwealth.\n\nB. The funds shall be deposited in separate, identifiable trust accounts setting\nforth the names of the depositor, the trustee for the person who is the subject\nof the contract, the name of the person who will render the funeral services and\nthe name of the person who is the subject of the contract. The purchaser shall\nhave the right to change the beneficiary and trustee of the trust at any time\nprior to the furnishing of the services or supplies contracted for under the\npreneed funeral contract. Trust account records shall be subject to examination\nby the Board.\n\nC. No funeral director, embalmer, funeral service licensee, owner of a funeral\nestablishment, or any person employed by or having an interest in a funeral\nestablishment shall serve as trustee of a trust account for which any such\nperson, or any funeral establishment owned by or employing such person or in\nwhich such person has an interest, has been named the beneficiary or designated\nthe provider of services, unless two or more such persons are named and serve as\ntrustees and are required to act jointly in such fiduciary capacity. Subject to\nthe terms of this subsection, and notwithstanding any other provision of law,\nthe trustee for any such trust account may be an incorporated association that\nis authorized to sell burial association group life insurance certificates in\nthe Commonwealth, as described in the definition of limited burial insurance\nauthority in § 38.2-1800, whose principal purpose is to assist its members\nin (i) financial planning for their funerals and burials and (ii) obtaining\ninsurance for the payment, in whole or in part, for funeral, burial, and related\nexpenses.\n\nHISTORY: 1989, c. 684; 1992, c. 337; 2007, c. 621.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}