{"data":{"id":"us-md/md.-code-business-regulation-5-709","jurisdiction":"us-md","citation":"Md. Code, Business Regulation § 5–709","heading":"","body":"(a) (1) A buyer may cancel a preneed burial contract as to preneed goods not delivered or preneed services not performed if the buyer:\n(i) permanently moves more than 75 miles from the cemetery specified in the preneed burial contract; and\n(ii) gives to the seller written notice, under oath, of the move and includes the buyer’s new permanent address.\n(2) In that event:\n(i) the seller shall certify to the trustee:\n1. the cancellation of the preneed burial contract;\n2. the amount of the remaining specific funds applicable to the preneed burial contract; and\n3. the name and address of the buyer; and\n(ii) the trustee shall then pay to the buyer the remaining specific funds, accrued interest on the specific funds, and a prorated proportional share of total realized capital gains attributable to the specific funds.\n(b) (1) Notwithstanding subsection (a) of this section, by written notice, a buyer may cancel the purchase of a casket or casket vault under a preneed burial contract at any time prior to the time the buyer needs the casket or casket vault for burial.\n(2) In that event:\n(i) the seller shall certify to the trustee:\n1. the cancellation of the purchase of the casket or casket vault under the preneed burial contract;\n2. the amount of the specific funds applicable to the casket or casket vault under the preneed burial contract; and\n3. the name and address of the buyer;\n(ii) the trustee shall pay to the buyer the specific funds, interest accrued on the specific funds, and a prorated proportional share of total realized capital gains attributable to the specific funds; and\n(iii) in addition to the refund paid by the trustee, the seller shall pay to the buyer an amount of money necessary to provide the buyer with a refund of 100% of the money paid for the casket or casket vault under the preneed burial contract.\n(c) If a buyer fails to provide written notice of cancellation and defaults on a preneed burial contract and, as a result, the seller terminates the preneed burial contract:\n(1) the seller shall certify to the trustee:\n(i) the default and termination of the preneed burial contract;\n(ii) the amount of the specific funds; and\n(iii) the reasonable expenses of the seller; and\n(2) the trustee shall then pay:\n(i) to the buyer, those specific funds, accrued interest on the specific funds, and a prorated proportional share of total realized capital gains attributable to the specific funds, less the reasonable expenses of the seller; and\n(ii) to the seller, the reasonable expenses of the seller.\n(d) If specific funds on deposit in a trust account have been dormant for at least 50 years since the date of the last deposit or disbursement and the seller cannot locate the buyer:\n(1) the seller shall certify to the trustee:\n(i) that the trust account is dormant and the buyer cannot be located; and\n(ii) the amount of the specific funds; and\n(2) the trustee shall then pay to the seller those specific funds, accrued interest on the specific funds, and a prorated proportional share of total realized capital gains attributable to the specific funds.","path":["Article - Business Regulation"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbr\u0026section=5-709","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:23Z","sha256":"bed0e2413f4185246c4ef69dd0d10cd0c2a77620074420cac212a7a1b1644ce7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-business-regulation-5-708","next":"us-md/md.-code-business-regulation-5-710"},"notice":"GroundRules: Original legal text. Not legal advice."}