407.620. Cancellation of purchase--printed notice of right to cancel to be given purchaser--form requirements.
Cancellation of purchase--printed notice of right to cancel to begiven purchaser--form requirements.
407.620. In addition to any other remedy by which such anagreement may be rescinded or otherwise voided, a purchaser of atime-share plan or time-share property has five days after theday of purchase to cancel the purchase. Printed notice of thisright to cancel shall be given to the purchaser in writing withthe use of 18-point boldface type in the following manner:
NOTICEYOU HAVE THE RIGHT TO CANCEL THIS AGREEMENT WITHIN FIVE DAYSAFTER THE DATE OF THIS AGREEMENT. CANCELLATION MUST BE INWRITING AND IF SENT BY MAIL, ADDRESSED TO THE OTHER CONTRACTINGPARTY AS SHOWN ON THIS AGREEMENT, CANCELLATION WILL BEACCOMPLISHED AT THE MOMENT THE LETTER IS POSTMARKED. IF SENT BYMAIL, THE LETTER MAY BE CERTIFIED WITH A RETURN RECEIPTREQUESTED. YOUR RIGHT TO CANCEL CANNOT BE WAIVED.
(L. 1985 H.B. 96, et al.)Effective 5-31-85