                                 CODE OF VIRGINIA

DISBURSEMENT OF TRUST FUNDS UPON PERFORMANCE OF CONTRACT (§ 54.1-2331)

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, identified
to the contract performed, which the trustee shall pay to the seller. The seller
may in its records itemize the property or services and the consideration paid
or to be paid therefor, to which the deposit requirements of this chapter apply.
In such case, the seller may, upon certification to the trustee of performance
or delivery of such property or services and of the amount of specific trust
funds identified in its records to such items, request disbursement of that
portion of the specific funds deposited pursuant to the contract, which the
trustee shall pay to the seller.

B. If the preneed contract provides for two or more persons, the seller may, at
its option, designate in its records the consideration paid for each individual
in the preneed burial contract. In such case, upon performance of that portion
of the contract identified to a particular individual, the seller may request,
by certification in the manner described above, the disbursement of trust funds
applicable to that portion of the contract, which the trustee shall pay to the
seller.

HISTORY: 1998, cc. 708, 721.