W. Va. Code R. § 142-8-15

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 142-8-15 - Notice Of Contract Irrevocability

15.1. No preneed funeral contract shall be made irrevocable without the express, written, informed consent of the contract buyer. Absent such consent, the preneed funeral contract shall be revocable.

15.2. Each preneed funeral contract which is irrevocable shall contain the following notice in boldface on the front of the contract:

"NOTICE OF IRREVOCABILITY

THIS PRENEED FUNERAL CONTRACT SHALL

BE IRREVOCABLE DURING THE LIFETIME OF

THE CONTRACT BENEFICIARY. NEITHER THE

BUYER NOR ANY OTHER PERSON AS

BENEFICIARY WILL BE ENTITLED TO CANCEL

THIS CONTRACT OR RECEIVE A REFUND OF

PAYMENTS MADE UNDER THIS CONTRACT.

_____________________________________

(Buyer's Signature) (Date)"

15.3. Any buyer who has purchased a preneed funeral contract may elect after consummation to amend the contract to make it irrevocable by notifying the contract seller and trustee and by placing his signature on the original copy of the contract and giving the true date of the signature.

W. Va. Code R. § 142-8-15