Virginia Regulatory Town Hall

Proposed Text


Regulatory reform changes
Stage: Fast-Track

18VAC65-30-70. Record reporting.

A. A contract provider shall keep a chronological or an alphabetical listing of all preneed contracts. The listing shall include the following:

1. Name of contract buyer;

2. Name of contract beneficiary;

3. Date of contract;

4. How contract was funded;

5. Whether up to 10% of funds are retained by the contract provider for contracts funded through trust; and

6. Whether funeral goods and supplies are stored for the contract buyer.

B. A contract provider who discontinues its business operations shall notify the board and each existing contract buyer in writing.