West Virginia Code of State Rules › Agency 142 - Attorney General › Title 142 - PROCEDURAL RULE ATTORNEY GENERAL › Series 142-08 - Administration Of Preneed Burial Contracts › Section 142-8-9 - Contents And Execution Of Contracts

Current through Register Vol. XLI, No. 28, July 12, 2024
9.1. All preneed funeral contracts which do
				not follow such official forms as may be promulgated by the Department shall be
				in writing and contain the following:
9.1.1.
				The name and address of the contract buyer and the contract beneficiary, if a
				different person;
9.1.2. Any
				statement required by the provisions of the Truth in Lending Act and Regulation
				Z, 15 U.S.C. ''1601 et seq., and 12 C.F.R. '226;
9.1.3. Any notice of cancellation required by
				the provisions of the Cooling Off Period For Door-to-Door Sales Rule, 16 C.F.R.
				'429 or the home solicitation sales provisions of W. Va. Code ''46A-2-132 to
				135;
9.1.4. Any statement required
				by the provisions of the Preservation of Consumers' Claims and Defenses Rule,
				16 C.F.R. '433;
9.1.5. Unless the
				contract is made irrevocable under the provisions of section 15 of this rule, a
				statement that the person shall have the right to cancel the preneed funeral
				services contract at any time and receive a refund of all monies paid and the
				return of any documents or instruments of obligation in the seller's
				possession: Provided, That, if any goods or services are being sold under the
				contract which are not "burial goods," "funeral goods" or "funeral services" as
				defined in W. Va. Code '47-14-2 and the
				contract seller wishes to retain monies paid therefor or the ten percent (10%)
				exclusion permitted by W. Va. Code '47-14-5,
				such right of retention and exclusion shall be clearly and conspicuously set
				forth on the face of the contract in a clause which must be separately
				acknowledged by the contract buyer;
9.1.6. Statements particularly describing all
				limitations, terms , and conditions of the contract and all rights and duties
				of the parties under the contract, including, but not limited to:
9.1.6.a. The total cost of such
				contract;
9.1.6.b. The amount of
				each periodic payment;
9.1.6.c. The
				timing of each periodic payment;
9.1.6.d. The amount of any finance charge
				assessed and the rate of assessment of finance charges;
9.1.6.e. The total of all payments under the
				contract including the downpayment;
9.1.6.f. Whether the seller is taking a
				security interest in any property in which the contract buyer has any
				interest;
9.1.6.g. The name and
				address of the contract seller and a contract number commencing with the digits
				of the year such contract was sold and a readily identifiable chronological
				numbering method;
9.1.6.h. The
				existence of and method of calculation of any late charges or deferral
				charges;
9.1.6.i. A statement
				describing the method of funding of the preneed funeral contract if other than
				through the establishment of a trust fund;
9.1.6.j. A specific description of the
				funeral or burial goods and funeral services to be provided, the cost of the
				goods and services in conformity with the provisions of the Federal Trade
				Commission's Funeral Practices Rule as in existence on the effective date of
				this rule, and the name(s) of all provider(s) for the preneed funeral
				contract.