reglab/housing_qa huggingface dataset:
VA Code § 54.1-2320 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2320. Additional deposit not required upon subsequent sale of same grave, crypt or niche

If ten percent of the sales price of a grave or above-ground crypt or niche has been deposited in a perpetual care trust fund, no deposit shall be required on subsequent sales of the same grave, crypt or niche.1998, cc. 708, 721.
VA Code § 54.1-2321 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 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.
VA Code § 54.1-2323 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2323. Financial records required

The cemetery company shall file with the Board detailed accounts of all transactions, receipts and accounts receivable subject to the ten percent trust requirement and of all expenditures of income from the perpetual care trust fund at such times as required by the Board.1998, cc. 708, 721.
VA Code § 54.1-2324 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2324. Financial report and report of independent certified public accountant required for perpetual care trust funds

A. Within four months after the close of its fiscal year, the cemetery company shall report the following information to the Board, on forms prescribed by the Board:1. The total amount of principal in the perpetual care trust fund;2. The securities in which the perpetual care trust fund is invested and the amount of cash on hand as of the close of the fiscal year;3. The income received from the perpetual care trust fund, and the sources of such income, during the preceding fiscal year;4. The method of distribution used for distributions from the perpetual care trust fund and, if a total return distribution method was used, a schedule to verify compliance with the requirements of § 54.1-2322;5. An affidavit executed by the compliance agent that all applicable provisions of this chapter relating to perpetual care trust funds have been complied with;6. The total receipts subject to the 10 percent trust requirement;7. All expenditures from the perpetual care trust fund;8. 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; and9. A separate total of expenses incurred for general care and maintenance, embellishment and administration of its cemeteries.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 § 54.1-2319, 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's report on the agreed-upon procedures. The information provided by the cemetery company shall provide full disclosure of any transactions between the perpetual care trust fund and any directors, officers, stockholders, or employees of the cemetery company, or relatives of the cemetery company'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 (§ 2.2-3800 et seq.).1998, cc. 708, 721; 2000, c. 36; 2004, c. 247; 2015, c. 344; 2017, cc. 12, 65.
VA Code § 54.1-2325 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2325. Deposit in preneed trust required upon sale of property or services not to be delivered within 120 days

A. Each cemetery company shall deposit into a trust fund at least forty percent of the receipts from the sale of property or services purchased pursuant to a preneed burial contract, when the delivery thereof will be delayed more than 120 days from the initial payment on said contract. The cemetery company shall establish a special trust fund in a Virginia trust company or trust subsidiary or a federally insured bank or savings institution doing business in the Commonwealth. The trust shall bear the legend "Preneed Trust Account." Deposits are required to be made by the cemetery company within thirty days after the close of the month in which said receipts are paid to it.B. If the purchaser's payment is made on an installment or deferred payment basis, the seller shall have the option of paying each payment received into the preneed trust account.1998, cc. 708, 721.
VA Code § 54.1-2326 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2326. Who may serve as trustee of preneed trust fund

A. The trustee of the preneed trust fund shall be appointed by the person owning, operating, or developing a cemetery company. 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, the trustee shall be approved by the Board.A trustee that is not a Virginia trust company or trust subsidiary or a federally insured bank or savings institution doing business in the Commonwealth shall apply to the Board for approval, and the Board shall approve the trustee when the Board has become satisfied that the applicant:1. Employs and is directed by persons who are qualified by character, experience, and financial responsibility to care for and invest the funds of others;2. Will perform its duties in a proper and legal manner and that the trust funds and interest of the public generally will not be jeopardized; and3. Is authorized to do business in the Commonwealth and has adequate facilities to perform its duties as trustee.B. 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, the trustee shall furnish a fidelity bond with corporate surety thereon, payable to the trust established, which shall be designated "Preneed Trust Fund for (name of cemetery company)," in a sum equal to but not less than 100 percent of the value of the principal of the trust estate at the beginning of each calendar year, which bond shall be deposited with the Board.C. 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, and if it appears that an officer, director or employee of the trustee is dishonest, incompetent, or reckless in the management of a preneed trust fund, the Board may bring an action in the appropriate court to remove the trustee and to impound the property and business of the trustee as may be reasonably necessary to protect the trust funds.1998, cc. 708, 721.
VA Code § 54.1-2327 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2327. Itemized statement and general price list of burial fees to be furnished; solicitations prohibited

A. Every cemetery company licensed pursuant to the provisions of this chapter shall furnish a written general price list and a written itemized statement of charges in connection with burial services provided by the cemetery company.Individuals inquiring in person about burial arrangements or the prices of property or services shall be given the general price list. Upon beginning discussion of burial arrangements or the selection of any property or services, the general price list shall be offered by the cemetery company.The itemized statement shall include, but not be limited to, the following charges: burial vaults or other burial receptacles, facilities used, and other professional services used, which shall be set forth in a clear and conspicuous manner.The general price list and itemized statement of burial fees shall comply with forms prescribed by Board regulation, which regulations shall promote the purposes of this section.B. No cemetery company licensed pursuant to the provisions of this chapter shall make any solicitation at-need or any preneed solicitation using in-person communication by the cemetery company, his agents, assistants or employees, which is false, misleading, or contrary to the stated purpose. However, general advertising and preneed solicitation shall be permitted.1998, cc. 708, 721.
VA Code § 54.1-2328 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2328. Requirements of preneed burial contracts

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'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 § 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; and12. 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'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.1998, cc. 708, 721.
VA Code § 54.1-2329 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2329. Identification of specific funds

Specific funds deposited in the trust account shall be identified in the records of the seller by the contract number and by the name of the buyer. The trustee may commingle the deposits in any preneed trust account for the purposes of the management thereof and the investment of funds therein.1998, cc. 708, 721.
VA Code § 54.1-2330 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2330. Specific funds and income to remain in preneed trust account; exception

Specific funds shall remain intact until the property is delivered or services performed as specified in the contract. The net income from the preneed trust account, after payment of any appropriate trustee fees, commissions, and costs, shall remain in the account and be reinvested and compounded. Any trustee fees, commissions, and costs in excess of income shall be paid by the cemetery company and not from the trust. However, the trustee shall, as of the close of the cemetery company's fiscal year, upon written assurance to the trustee of a certified public accountant employed by the seller, return to the seller any income in the seller's account which, when added to the specific funds, is in excess of the current cost requirements for all undelivered property or services included in the seller's preneed burial contracts. The seller's cost requirements shall be certified in its records by an affidavit sworn by the compliance agent and shall be determined by the seller as of the close of the cemetery company's fiscal year.1998, cc. 708, 721.
VA Code § 54.1-2331 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2331. Disbursement of trust funds upon performance of contract

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.1998, cc. 708, 721.
VA Code § 54.1-2332 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2332. Seller required to keep records

Each seller of a preneed burial contract shall file with the Board at such time as the Board may prescribe, detailed accounts of all contracts and transactions regarding preneed burial contracts.1998, cc. 708, 721.
VA Code § 54.1-2333 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2333. Financial report and report of independent certified public accountant required for preneed trust accounts

A. The cemetery company shall report the following information to the Board within four months following the cemetery company'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; and7. 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 § 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'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'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 (§ 2.2-3800 et seq.).1998, cc. 708, 721; 2000, c. 36; 2004, c. 247; 2015, c. 344.
VA Code § 54.1-2334 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2334. Inclusion of property and services to be delivered within 120 days

Nothing in this chapter shall be deemed to prohibit the sale within the preneed burial contract of property or services to be delivered within 120 days after the receipt of the initial payment on account of such sale. Contracts may specify separately the total consideration paid or to be paid for preneed property or services not to be delivered or provided within 120 days after receipt of initial payment. If a contract does not so specify, the seller shall deposit forty percent of the total consideration for the entire contract.1998, cc. 708, 721.
VA Code § 54.1-2335 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2335. Breach of contract by seller; trust to be single purpose trust

If, after a written request, the seller fails to perform its contractual duties, the purchaser, executor or administrator of the estate, or heirs, or assigns or duly authorized representative of the purchaser shall be entitled to maintain a proper legal or equitable action in any court of competent jurisdiction. No other purchaser need be made a party to or receive notice of any proceeding brought pursuant to this section relating to the performance of any other contract.The trust shall be a single purpose trust, and the trust funds shall not be available to any creditors as assets of the seller.1998, cc. 708, 721.
VA Code § 54.1-2336 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2336. Trustee may rely on certifications and affidavits

The trustee may rely upon all certifications and affidavits made pursuant to or required by the provisions of this chapter and shall not be liable to any person for such reasonable reliance.1998, cc. 708, 721.
VA Code § 54.1-2337 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2337. Transfer of trust funds to another trustee

The seller may, upon notification in writing to the trustee, and upon such other terms and conditions as the agreement between them may specify, transfer its account funds to another trustee qualified under the provisions of this chapter. The trustee may, upon notification in writing to the seller, and upon such other terms and conditions as the agreement between them may specify, transfer the trust funds to another trustee qualified under the provisions of this chapter. No seller's account funds or trustee's trust funds may be transferred to another trustee unless the seller provides written notice at least five days prior to such transfer to the Board.1998, cc. 708, 721.
VA Code § 54.1-2338 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2338. Use of trustee's name in advertisements

No person subject to the provisions of this chapter shall use the name of the trustee in any advertisement or other public solicitation without written permission of the trustee.1998, cc. 708, 721.
VA Code § 54.1-2339 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2339. Construction and development of mausoleums and garden crypts

Within four years after the date of the first sale, a cemetery company or other seller of mausoleums and garden crypts shall be required to start construction or development of that undeveloped ground or section of a mausoleum or garden crypt in which sales, contracts for sales, or agreements for sales are being made. The construction or development of such undeveloped mausoleum section or garden crypt shall be completed within five years after the date of the first such sale. Completed construction shall be deemed performance for purposes of this chapter.1998, cc. 708, 721.
VA Code § 54.1-2340 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2340. Waiver of chapter void

Any provision of any contract which purports to waive any provision of this chapter shall be void.1998, cc. 708, 721.
VA Code § 54.1-2341 (2021)
2021 Code of Virginia|Title 54.1 - Professions and Occupations|Chapter 23.1 - Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts|§ 54.1-2341. Exemption from levy, garnishment and distress

Any money, personal property or real property paid, delivered or conveyed subject to § 54.1-2325 shall be exempt from levy, garnishment or distress.1998, cc. 708, 721.