As used in this chapter, unless the context requires otherwise:

1. (1) "Administrator" means the administrator of the South Carolina Department of Consumer Affairs.
2. (2) "Beneficiary" means the person who is to be the subject of the disposition, services, facilities, or merchandise described in a preneed funeral contract.
3. (3) "Common trust fund" means a trust in which the proceeds of more than one funeral contract may be held by the trustee.
4. (4) "Department" means the South Carolina Department of Consumer Affairs.
5. (5) "Financial institution" means a bank, trust company, or savings and loan association authorized by law to do business in this State.
6. (6) "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.
7. (7) "Provider" means a funeral home licensed in this State which is the entity providing services and merchandise pursuant to a preneed funeral contract and is designated trustee of all funds.
8. (8) "Purchaser" means the person who is obligated to make payments under a preneed funeral contract.
9. (9) "Seller" means a licensed funeral director in this State who is directly employed by the provider.