407.1249. Right to rescind and cancel, time period allowed.
Right to rescind and cancel, time period allowed.
407.1249. Assuming a purchaser returns to the travel club allmaterials of value delivered to the purchaser at closing, all purchasers oftravel club memberships from a travel club that is registered shall havethe nonwaivable right for a period of three business days after the date oftheir purchase to rescind and cancel their travel club purchase and receivea full refund of all sums otherwise paid to the travel club within fifteenbusiness days of such rescission, minus the actual and reasonable cost ofprocessing the refund, including credit card fees if applicable. Use oftravel club benefits during such rescission period shall not waive theright afforded by this section. Individuals who purchase travel clubmemberships from a travel club that is not registered under sections407.1240 to 407.1252 shall have a nonwaivable right for a period of threeyears from the date of purchase to rescind and cancel their travel clubmembership and shall receive a full refund within fifteen business days ofsuch rescission.
(L. 2005 S.B. 274, A.L. 2006 S.B. 1216, A.L. 2009 H.B. 83)