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 to be delivered or provided within one hundred twenty 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.
Structure West Virginia Code
Chapter 35. Property of Religious, Educational and Charitable Organizations
Article 5B. Preneed Cemetery Company Property, Goods and Services; Related Contracts
§35-5B-2. Information Filing; Fees, Compliance Agent
§35-5B-4. Deposit in Preneed Trust Required; Who May Serve as Trustee
§35-5B-5. Requirements for Preneed Cemetery Company Contracts
§35-5B-6. Identification of Funds
§35-5B-7. Corpus of Trust Account and Income to Remain in Preneed Trust Account; Exception
§35-5B-8. Disbursement of Trust Funds Upon Performance of Contract; Mausoleum Construction Required
§35-5B-9. Seller Required to Keep Records
§35-5B-10. Financial Report and Written Assurance Required
§35-5B-11. Inclusion of Property, Goods and Services to Be Delivered Within One Hundred Twenty Days
§35-5B-12. Breach of Contract by Seller; Trust to Be Single Purpose Trust
§35-5B-13. Trustee May Rely on Certifications and Affidavits
§35-5B-14. Transfer of Trust Funds to Another Trustee
§35-5B-15. Use of Trustee's Name in Advertisements
§35-5B-16. Cemetery Property Maintained by Cemetery Company
§35-5B-17. Waiver of Article Void