Upon the occurrence of the risk insured against, the burial society shall be obligated to the beneficiary for payment of the claim unless the contract is invalid because of fraud or other reason. This indebtedness shall be a lien upon all the property, effects and bills receivable of the society. This indebtedness shall have priority over all future incurred indebtedness, except as provided in this chapter in the case of the distribution of assets of an insolvent corporation, and as to rights of third parties.
Code 1950, §§ 38-145, 38-451; 1952, c. 317, §§ 38.1-545, 38.1-555; 1986, c. 562.
Structure Code of Virginia
§ 38.2-4000. Societies to which chapter applies
§ 38.2-4001. Society may be incorporated
§ 38.2-4002. Continuation of existing societies
§ 38.2-4003. Licensing of additional societies prohibited
§ 38.2-4004. What laws applicable
§ 38.2-4005. License may be renewed annually
§ 38.2-4007. Adoption of bylaws
§ 38.2-4008. Fidelity bond required
§ 38.2-4009. Inspection of books and papers
§ 38.2-4010. Accumulation of reserve for an emergency fund
§ 38.2-4011. Maintenance of reserve for an emergency fund
§ 38.2-4012. Disposition of reserve for an emergency fund; discontinuance of business; receiver
§ 38.2-4013. Certificates of membership
§ 38.2-4014. Required grace period
§ 38.2-4015. Certificate to specify amount of payment and when to be paid
§ 38.2-4016. Payments become liens on society's property
§ 38.2-4017. Notice of assessment
§ 38.2-4018. Liability on officers and directors for failing to levy assessments
§ 38.2-4020. When certificate invalid
§ 38.2-4021. Interest in benefits; assignability; liability to attachment, etc.
§ 38.2-4022. Certain contracts with undertakers, etc., forbidden