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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 18. Professional and Occupational Licensing |
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Agency 65. Board of Funeral Directors and Embalmers |
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Chapter 30. Regulations for Preneed Funeral Planning |
Section 120. Escrow account
Latest version.
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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.
Historical Notes
Derived from VR320-01-3 § 6.3, eff. March 1, 1991; amended, Volume 09, Issue 22, eff. August 25, 1993; Volume 11, Issue 14, eff. May 3, 1995; Volume 15, Issue 07, eff. January 20, 1999.