Nevada Revised Statutes Title 57. Insurance § 689.575. Prepaid contracts: Termination upon notice from buyer or demise of buyer; action by trustee or seller; required provision related to termination for default in payment

1. Except as otherwise provided in subsection 2, if the buyer moves to another geographic area beyond the normal service facilities of the seller and performers under the prepaid burial merchandise and service contract, the contract automatically terminates upon the buyer's written notice to the seller and trustee of the move of the buyer and of the desire of the buyer to terminate the contract. The trustee, as soon as reasonably possible after receipt of the notice, shall refund to the buyer all money, including earned interest, in the trust fund held for the buyer's account.

2. If the contract continues in force and the buyer is not in default thereunder, upon the demise of the buyer, the contract automatically terminates. Upon termination, the seller shall:

3. The cemetery authority shall include a provision in each prepaid contract substantially stating: “If the purchaser defaults in making any payment under this contract, the cemetery authority may terminate the contract and is entitled to retain as damages not more than 40 percent of the total purchase price. The balance remaining, if any, must be refunded to the purchaser.”