2005 Missouri Revised Statutes - § 436.041. — Default by purchaser, seller may cancel contract, when, procedure.

436.041. If the payments payable under a preneed contract shall be more than three months in arrears, the seller may cancel the contract by delivering written notice thereof to the purchaser and the provider, and by making payment to the purchaser of a net amount equal to all payments made into trust under the contract. Upon delivery of the purchaser's receipt of such payment to the trustee, the trustee shall distribute to the seller from the trust an amount equal to all deposits made into the trust for the contract.

(L. 1982 S.B. 644 § 9)