                                 CODE OF VIRGINIA

FINANCIAL REPORT AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT REQUIRED
FOR PRENEED TRUST ACCOUNTS (§ 54.1-2333)

A. The cemetery company shall report the following information to the Board
within four months following the cemetery company&#8217;s fiscal year, on forms
prescribed by the Board:

   1. The total amount of principal in the preneed trust account;

   2. The securities in which the preneed trust account is invested;

   3. The income received from the trust and the source of that income during the
   preceding fiscal year;

   4. An affidavit executed by the compliance agent that all provisions of this
   chapter applicable to the seller relating to preneed trust accounts have been
   complied with;

   5. Forty percent of the total receipts required to be deposited in the preneed
   trust account;

   6. All expenditures from the preneed trust account; and

   7. If the trustee is other than a Virginia trust company or trust subsidiary
   or a federally insured bank or savings institution doing business in the
   Commonwealth, proof that the required fidelity bond has been secured and that
   it is in effect.

B. The cemetery company shall (i) engage an independent certified public
accountant to apply agreed-upon procedures as specified by the Board to the
total of all receipts subject to &#xA7; 54.1-2325, in accordance with standards
established by the American Institute of Certified Public Accountants or any
successor standard authorities, and (ii) provide to the Board the independent
certified public accountant&#8217;s report on the agreed-upon procedures.
			The information provided by the cemetery company shall provide full
disclosure of any transactions between the preneed trust account and any
directors, officers, stockholders, or employees of the cemetery company, or
relatives of the cemetery company&#8217;s employees, and shall include a
description of the transactions, the parties involved, the dates and amounts of
the transactions, and the reasons for the transactions.

C. The information required to be filed hereunder with the Board shall be exempt
from the Government Data Collection and Dissemination Practices Act (&#xA7;
2.2-3800 et seq.).

HISTORY: 1998, cc. 708, 721; 2000, c. 36; 2004, c. 247; 2015, c. 344.