Virginia § 54.1-2321 Recovery of original perpetual care trust fund deposit

Virginia Statutes

§ 54.1-2321 — Recovery of original perpetual care trust fund deposit

Virginia § 54.1-2321

Title 54.1PROFESSIONS AND OCCUPATIONS

Subtitle IIPROFESSIONS AND OCCUPATIONS REGULATED BY THE DEPARTMENT OF PROFESSIONAL AND OCCUPATIONAL REGULATION AND BOARDS WITHIN THE DEPARTMENT

Ch. 23.1CEMETERY OPERATORS, PERPETUAL CARE TRUST FUNDS AND PRENEED BURIAL CONTRACTS

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Bluebook

Va. Code Ann. § 54.1-2321 (2026).

Text

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.

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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.