South Carolina Code 32-7-25. Irrevocable contracts
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In South Carolina Code 32-7-25
- Contract: A legal written agreement that becomes binding when signed.
- Preneed funeral contract: means a contract which has for its purpose the furnishing or performance of funeral services or the furnishing or delivery of personal property, merchandise, or services of any nature in connection with the final disposition of a dead human body to be furnished or delivered at a time determinable by the death of the person whose body is to be disposed of, but does not mean the furnishing of a cemetery lot, crypt, niche, mausoleum, grave marker, or monument. See South Carolina Code 32-7-10
- Purchaser: means the person who is obligated to make payments under a preneed funeral contract. See South Carolina Code 32-7-10
The contracts governed by the provisions of this chapter may be made irrevocable at the option of the purchaser. If the purchaser selects an irrevocable contract he must be allowed thirty days to examine the contract. Within that period, the purchaser may revoke his decision to enter this contract and all monies paid by the purchaser must be refunded. An irrevocable trust-funded preneed funeral contract executed under this chapter must not be converted to an insurance-funded preneed funeral contract. If a premium is paid on an insurance-funded preneed irrevocable contract and the contract is revoked within thirty days, the full premium must be refunded.