2006 Code of Virginia § 54.1-2316 - Certain representations unlawful; perpetual care trust fund required

54.1-2316. Certain representations unlawful; perpetual care trust fundrequired.

It shall be unlawful to sell or offer for sale in the Commonwealth any graveor entombment right in a cemetery and, in connection therewith, to representto the public in any manner, express or implied, that the entire cemetery orany grave or entombment right therein will be perpetually cared for, unlessadequate provision has been made for the perpetual care of the cemetery andall graves and entombment rights therein as to which such representation hasbeen made.

Each cemetery company shall establish in a Virginia trust company or trustsubsidiary or a federally insured bank or savings institution doing businessin the Commonwealth, an irrevocable trust fund in the amount of at least$50,000 before the first lot, parcel of land, burial or entombment right issold. This fund shall be designated the perpetual care trust fund.

(1998, cc. 708, 721; 2004, c. 192.)