Nevada Revised Statutes 598.875 – Requirements for contracts for membership
Each contract for membership in an organization must:
Terms Used In Nevada Revised Statutes 598.875
- Contract: A legal written agreement that becomes binding when signed.
- Unit: means the Consumer Affairs Unit of the Department of Business and Industry. See Nevada Revised Statutes 598.0901
1. Be in writing, legible and have all spaces filled in before the buyer signs it;
2. Be in the language in which the sales presentation was given;
3. Contain the addresses of the buyer and the organization;
4. Be given to the buyer when he or she signs it;
5. Disclose that the security required by NRS 598.851, 598.853 and, if applicable, NRS 598.855 has been obtained and deposited with the Consumer Affairs Unit;
6. Specify the term of the membership of the buyer, which may not be measured by the buyer’s life;
7. Clearly specify the buyer’s right to cancel the contract pursuant to NRS 598.885;
8. Clearly specify the buyer’s right to rescind the contract and to be given a refund pro rata pursuant to NRS 598.910 and the conditions and limitations on that right;
9. Clearly specify the buyer’s right to a refund on the purchase of goods pursuant to NRS 598.895 and the conditions and limitations on that right; and
10. Clearly specify whether or not the buyer is given any other rights to a refund on the purchase of goods or services and, if so, any conditions and limitations on those rights.