Section 5-709 - Disbursement of money - On termination of contract(a)(1) A buyer may cancel a preneed burial contract as to preneed goods not delivered or preneed services not performed if the buyer: (i) permanently moves more than 75 miles from the cemetery specified in the preneed burial contract; and(ii) gives to the seller written notice, under oath, of the move and includes the buyer's new permanent address.(2) In that event:(i) the seller shall certify to the trustee:1. the cancellation of the preneed burial contract;2. the amount of the remaining specific funds applicable to the preneed burial contract; and3. the name and address of the buyer; and(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.(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.(2) In that event: (i) the seller shall certify to the trustee: 1. the cancellation of the purchase of the casket or casket vault under the preneed burial contract;2. the amount of the specific funds applicable to the casket or casket vault under the preneed burial contract; and3. the name and address of the buyer;(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(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.(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: (1) the seller shall certify to the trustee: (i) the default and termination of the preneed burial contract;(ii) the amount of the specific funds; and(iii) the reasonable expenses of the seller; and(2) the trustee shall then pay:(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(ii) to the seller, the reasonable expenses of the seller.(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: (1) the seller shall certify to the trustee: (i) that the trust account is dormant and the buyer cannot be located; and(ii) the amount of the specific funds; and(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.Amended by 2014 Md. Laws, Ch. 81,Sec. 1, eff. 7/1/2014.