Nothing in this chapter shall be deemed to prohibit the sale within the preneed burial contract of property or services to be delivered within 120 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 or services not to be delivered or provided within 120 days after receipt of initial payment. If a contract does not so specify, the seller shall deposit forty percent of the total consideration for the entire contract.

Terms Used In Virginia Code 54.1-2334

  • Contract: A legal written agreement that becomes binding when signed.
  • Preneed: means at any time other than either at the time of death or while death is imminent. See Virginia Code 54.1-2310
  • Seller: means the cemetery company. See Virginia Code 54.1-2310

1998, cc. 708, 721.

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