The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

CLEANUP FUND Definition & Legal Meaning

Definition & Citations:

1. In Insurance, this is a life insurance fund available to cover final expenses of an individual such as funeral services, settlement of the financial assets per the will of the deceased. or any other posthumous costs. Known also as funds for final expenses. 2. In General, this is a fund a firm sets aside to cover costs due to an accidental environmental hazard such as boiler blasts, radiation leakages and oil spills.

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