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Current as of January 01, 2024 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Rhode Island General Laws Title 5. Businesses and Professions § 5-33.1-9. Irrevocable funeral contract - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-5-businesses-and-professions/ri-gen-laws-sect-5-33-1-9/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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