Businesses and Professions

CHAPTER 5-33.1
Funeral Service Contracts

SECTION 5-33.1-9

§ 5-33.1-9. Irrevocable funeral contract.

An irrevocable funeral contract may be entered into in which the amount held in escrow may be disbursed only upon the death of the beneficiary and that all interest accumulates to the escrow account and is also inaccessible to the beneficiary. Such irrevocable funeral contract funds only shall be transferred from one funeral service establishment to another upon request of the beneficiary and the consent of the escrow agent. The purchase of an irrevocable funeral contract shall not preclude an individual from purchasing other funeral contracts that are revocable.

History of Section.
(P.L. 1990, ch. 103, § 1; P.L. 2009, ch. 310, § 30.)