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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 54.1. Professions and Occupations |
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SUBTITLE II. Professions and Occupations Regulated By the Department of Professional and Occupational Regulation and Boards Within the Department |
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CHAPTER 23.1. Cemetery Operators, Perpetual Care Trust Funds and Preneed Burial Contracts |
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SECTION 54.1-2337. Transfer of trust funds to another trustee |
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The seller may, upon notification in writing to the trustee, and upon such other terms and conditions as the agreement between them may specify, transfer its account funds to another trustee qualified under the provisions of this chapter. The trustee may, upon notification in writing to the seller, and upon such other terms and conditions as the agreement between them may specify, transfer the trust funds to another trustee qualified under the provisions of this chapter. No seller's account funds or trustee's trust funds may be transferred to another trustee unless the seller provides written notice at least five days prior to such transfer to the Board. |