2011 Code of Virginia
Title 54.1 PROFESSIONS AND OCCUPATIONS.
Chapter 23.1 Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts (54.1-2310 thru 54.1-2342)
54.1-2321 Recovery of original perpetual care trust fund deposit


VA Code § 54.1-2321 (2001 through Reg Session) What's This?

54.1-2321. Recovery of original perpetual care trust fund deposit.

Once the cemetery company has deposited in the perpetual care trust fund a sum equal to twice the amount of the original deposit, exclusive of the original deposit, the trustee shall allow the cemetery company to recover its original deposit by withholding the money that would otherwise be required to be deposited in the perpetual care trust fund until the amount of the original deposit is recovered. Once the cemetery company has recovered an amount equal to its original deposit, deposits to the perpetual care trust fund shall be resumed.

(1998, cc. 708, 721.)

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