Administrative Code

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Virginia Administrative Code
Title 18. Professional And Occupational Licensing
Agency 65. Board of Funeral Directors And Embalmers
Chapter 30. Regulations for Preneed Funeral Planning

18VAC65-30-120. Escrow account.

Within five banking days after the day of receipt of any money from the contract buyer and until the time the money is invested in a trust, life insurance, or annuity policy, the contract seller or the contract provider shall deposit the money into an escrow account in a bank or savings institution approved to do business in the Commonwealth.

Statutory Authority

§§ 54.1-2400, 54.1-2803 and 54.1-2820 of the Code of Virginia.

Historical Notes

Derived from VR320-01-3 § 6.3, eff. March 1, 1991; amended, Virginia Register Volume 9, Issue 22, eff. August 25, 1993; Volume 11, Issue 14, eff. May 3, 1995; Volume 15, Issue 7, eff. January 20, 1999.

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