Section 260. Protection of perpetual care and preneed trust funds

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In the event that preneed or perpetual care funds are held in trust and the board or any of its agents have reason to believe that (i) the licensee or any agent of the licensee has diverted or misused any funds held in trust; (ii) the licensee is not able to adequately protect the interest of the person involved; (iii) the licensee's conduct or the operation of the cemetery company threatens the interests of the public; or (iv) the licensee has had its license suspended, revoked or surrended, the board may initiate legal proceedings in accordance with § 54.1-2313.1 of the Code of Virginia.

Historical Notes

Derived from Volume 23, Issue 21, eff. August 1, 2007.

Statutory Authority

§§ 54.1-201 and 54.1-2313 of the Code of Virginia.

                    
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