The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
003
:
PREPAID FUNERAL ARRANGEMENTS
(Cite as: 26 V.S.A. § 1274)
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§ 1274. Transfer of contracts and assets
(a) A buyer of prepaid funeral arrangements may transfer a revocable or irrevocable contract
and assets to another funeral director under similar arrangements, in Vermont or outside.
The funeral director who originated the contract may charge the buyer a transfer fee
of no more than five percent of the principal amount of the assets.
(b) A funeral director shall transfer a contract and assets to another funeral director
if any of the following events occur:
(1) The funeral director’s business is sold.
(2) The funeral director becomes insolvent or bankrupt.
(3) The funeral director ceases to do business. Before transferring a contract and assets
under this subsection, the funeral director shall notify the buyer of the director’s
intent to make such a transfer, and the buyer may choose the funeral director to whom
the contract and assets will be transferred.
(c) If a buyer of a prepaid funeral arrangement defaults in making payments required under
the terms of the contract, or if the buyer or the person responsible for making funeral
arrangements for the deceased beneficiary fails to have the funeral director provide
services, the funeral director may retain up to five percent of the amount in the
escrow account at the time of default. The escrow agent shall pay the amount retained
to the funeral director and the balance to the buyer when the funeral director gives
written notice of default.
(d) The assets held in an escrow account, including any earnings on the assets, shall
not be available to the funeral director and shall be exempt from levy or execution
for the debts of the funeral director, except as otherwise provided in this subchapter. (Added 1991, No. 219 (Adj. Sess.), § 5, eff. Jan. 1, 1993.)