                                 CODE OF VIRGINIA

REQUIREMENTS OF PRENEED BURIAL CONTRACTS (§ 54.1-2328)

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 contract
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&#8217;s license number, contract buyer and
   person for 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 purchased
   is guaranteed;

   5. States, for funds required to be trusted pursuant to &#xA7; 54.1-2325, the
   amount to be trusted and the name of the trustee;

   6. Contains the name, address and telephone number of the Board and lists the
   Board as the regulatory agency which handles consumer complaints;

   7. Provides that any purchaser who makes payment under the contract may
   terminate the agreement within three days of execution and that such purchaser
   shall be refunded all consideration paid or delivered, less amounts paid for
   any property or supplies that have been delivered;

   8. Provides that if the particular property or services specified in the
   contract are unavailable at the time of delivery, the seller shall be required
   to furnish property or services similar in size and style and at least equal
   in quality of material and workmanship and that the representative of the
   deceased shall have the right to choose the property or services to be
   substituted, which shall be at least equal or reasonably equivalent in quality
   of material, workmanship, and cost;

   9. Discloses any additional costs that the purchaser may be required to pay
   at-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 the
   contract provider at any time prior to the furnishing of the property or
   services, excluding any mausoleum crypt or garden crypt, contracted for under
   the preneed burial contract. If the contract seller will not be furnishing the
   property and services to the purchaser, the contract seller shall attach to
   the preneed burial contract a copy of the seller&#8217;s agreement with the
   provider.

B. Any preneed burial contract sold or offered by any cemetery company or agent
with a trust fund deposit of less than 100 percent shall be required to include
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 OF
40% OF THE FUNDS INCLUDED IN THIS CONTRACT. THE BALANCE OF FUNDS MAY BE USED FOR
CARE AND MAINTENANCE OF THE CEMETERY AND ARE NOT REQUIRED TO BE PLACED IN TRUST.

HISTORY: 1998, cc. 708, 721.