Nevada Revised Statutes 689.545 – Prepaid contracts: Filing and approval and disapproval of forms; waiting period
1. A seller shall not offer, sell or deliver in this state any prepaid contract unless the form of the contract has been filed with and approved in writing by the Commissioner.
Terms Used In Nevada Revised Statutes 689.545
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Contract: A legal written agreement that becomes binding when signed.
2. The Commissioner shall disapprove any form of contract which the Commissioner finds:
(a) Printed or reproduced in such a manner as to be substantially illegible in whole or in part;
(b) Contains ambiguous or misleading provisions, clauses or titles;
(c) Includes or combines in the prepaid contract provisions for the purchase of cemetery plots and existing burial spaces, unless such sales are separated and distinctly defined as burial merchandise and services; or
(d) Does not comply or is inconsistent with any applicable requirement of NRS 689.450 to 689.595, inclusive, or for other good cause shown.
3. No amendment or modification of any form may be made unless the amendment or modification has been filed with and approved in writing by the Commissioner.
4. Each filing is subject to a waiting period of up to 30 days before it becomes effective.
5. Upon written application by the holder of a seller’s permit, the Commissioner may authorize a filing which the Commissioner has reviewed to become effective before the expiration of the waiting period or any extension thereof.
6. A filing shall be deemed to meet the requirements of NRS 689.450 to 689.595, inclusive, unless disapproved by the Commissioner within the waiting period or any extension thereof.