§35-5B-11. Inclusion of Property, Goods and Services to Be Delivered Within One Hundred Twenty Days
Nothing in this article prohibits the sale within the contract of preneed property, goods or services to be delivered within one hundred twenty days after the receipt of the initial payment on account of such sale. Contracts may specify separately the total consideration paid or to be paid for preneed property, goods or services not […]
§35-5B-12. Breach of Contract by Seller; Trust to Be Single Purpose Trust
(a) If, after a written request, the seller fails to perform its contractual duties, the purchaser, executor or administrator of the estate, or heirs, or assigns or duly authorized representative of the purchaser shall be entitled to maintain a proper legal or equitable action in any court of competent jurisdiction. No other purchaser need be […]
§35-5B-13. Trustee May Rely on Certifications and Affidavits
The trustee may rely upon all certifications and affidavits which have been made pursuant to the provisions of this article and is not liable to any person for such reasonable reliance.
§35-5B-5. Requirements for Preneed Cemetery Company Contracts
A preneed cemetery company contract shall: (1) Be written in clear understandable language and printed in easy-to-read type, size and style;
§35-5B-6. Identification of Funds
Any funds deposited in the trust account as required by section four of this article shall be identified in the records of the seller by the contract number and by the name of the buyer. The trustee may commingle the deposits in any preneed trust account for the purposes of the management thereof and the […]
§35-5B-2. Information Filing; Fees, Compliance Agent
On or after July 1, 1993, no person, partnership, firm or corporation may engage in the business of operating a cemetery company in this state without having first paid an annual registration fee established by the Tax Commissioner in an amount not to exceed $400, and filing with the Tax Commissioner certain information which shall […]
§35-5B-3. Exemptions
The provisions of this article do not apply to: (1) Sales of property, goods and services subject to the provisions of article fourteen, chapter forty-seven of this code;
§35-5B-4. Deposit in Preneed Trust Required; Who May Serve as Trustee
(a) Each cemetery company shall deposit into an interest bearing trust fund forty percent of the receipts from the sale of property, goods or services purchased pursuant to a preneed cemetery company contract including sales of opening and closing or interment services, when the delivery thereof will be delayed more than one hundred twenty days […]
§35-5A-4. Additional Funding of Permanent Endowment Care Funds
No person shall operate or continue to operate any perpetual care cemetery in the State of West Virginia after July 1, 1973, without placing into a permanent endowment care fund $10 or ten percent of the gross sales proceeds, whichever is greater, received from the sale of any burial right or lot and not less […]
§35-5A-5. Trustee of the Permanent Endowment Care Funds
The trustee of the permanent endowment care fund shall be a federally insured trust company or a federally insured banking institution with fiduciary powers authorized and qualified to exercise trust powers under and subject to the provisions of article four, chapter thirty-one-a of this code, or of the corresponding law of another state. A nonresident […]